Between 2000 and 2008, EU27 trade in goods with India more than doubled in value: exports rose from 13.7 billion euro to 31.6 bn, while imports increased from 12.8 bn to 29.5 bn. As a result, the EU27 surplus in trade with India increased from 0.8 bn in 2000 to 2.1 bn in 2008. India accounted in 2008 for 2.4% of EU27 exports and 1.9% of EU27 imports, and was the EU27's 10th most important trading partner.

In the first half of 2009 the value of EU27 exports to India fell to 12.7 bn euro, compared with 15.7 bn in the first half of 2008, and imports decreased to 12.9 bn from 14.9 bn. As a result, the EU27 trade balance with India moved from a surplus of 0.8 bn in the first half of 2008 to a deficit of 0.2 bn in the same period of 2009. It should be noted that the fall in the value of EU27 trade with India recorded between the first half of 2008 and the first half of 2009 is in line with the general downward trend in the EU27's total external trade over the same period.

On the occasion of the 10th European Union - India summit, which will take place on 6 November in New Delhi, Eurostat, the Statistical Office of the European Communities, issues data on trade and investments between India and the EU.

Germany and the United Kingdom largest EU27 trading partners of India

Among the EU27 Member States, Germany (8.1 bn euro or 26% of EU exports) was by far the largest exporter to India in 2008, followed by the United Kingdom (5.1 bn or 16%), Belgium (5.0 bn or 16%), France (3.3 bn or 11%) and Italy (3.1 bn or 10%). The United Kingdom (5.2 bn or 18%) was the largest importer, followed by Germany (4.8 bn or 16%), Belgium (3.8 bn or 13%), Italy (3.4 bn or 12%) and France (2.9 bn or 10%).

The largest surpluses in trade with India were observed in Germany (+3.3 bn euro), Belgium (+1.2 bn) and Sweden (+0.8 bn), while the largest deficits were registered in Spain (-1.4 bn) and the Netherlands (-1.1 bn).

More than 80% of EU27 exports to India in 2008 were machinery and vehicles and other manufactured articles, while other manufactured articles accounted for more than 50% of imports.

Continuing EU27 surplus in trade in services with India

In 2008, the EU27 exported 9.0 bn euro of services to India, while imports amounted to 7.4 bn meaning that the EU27 had a surplus of 1.5 bn in trade in services with India, compared with a surplus of 1.5 bn in 2006 and 2.5 bn in 2007. The surplus in 2008 was mainly due to transportation (+1.1 bn) and other business services (+0.8 bn). The largest deficits were observed for travel (-0.9 bn) and computer & information services (-0.3 bn). India accounted for 1.7% of total extra-EU27 trade in services.

Fluctuating FDI flows between EU and India

EU27 Foreign Direct Investment (FDI) in India grew from 2.5 bn euro in 2006 to 5.4 bn in 2007, then fell to 0.9 bn in 2008, while Indian direct investment into the EU27 increased from 0.5 bn in 2006 and 0.9 bn in 2007 to 2.4 bn in 2008.