In the first half of 2009 the value of EU27 exports to Russia fell to 31 bn euro, compared with 51 bn in the first half of 2008, and imports decreased to 52 bn from 91 bn. As a result, the EU27 trade deficit with Russia dropped from 40 bn in the first half of 2008 to 21 bn in the same period of 2009. This reduction was mainly due to a significant decrease in the energy deficit (-37 bn compared with -62 bn), partially offset by a lower surplus for machinery and vehicles (+13 bn compared with +25 bn).

The fall in EU27 trade with Russia recorded between the first halves of 2008 and 2009 was steeper than the general downward trend in the EU27's total external trade, leading to a decrease in the share of Russia in the EU27's total external trade in goods to 6% of exports and 9% of imports in the first half of 2009, compared with 8% and 12% respectively in the first half of 2008, although Russia remains the EU27's third most important trading partner, after the USA and China. It should be noted that between 2000 and 2008, EU27 trade in goods with Russia had more than tripled in value, and the share of Russia in the EU27's total external trade in goods doubled.

On the occasion of the 24th European Union - Russia summit, which will take place on 18 November in Stockholm, Eurostat, the Statistical Office of the European Communities, issues data on trade in goods between Russia and the EU. Data on trade in services and investments can be found in the recent News Release1 published for the previous EU - Russia summit.

Germany, the Netherlands and Italy: largest trading partners of Russia

Among the EU27 Member States, Germany (9.6 bn euro or 31% of EU exports) was by far the largest exporter to Russia in the first half of 2009, followed by Italy (3.1 bn or 10%), France (2.3 bn or 8%), the Netherlands (2.1 bn or 7%) and Finland (2.0 bn or 6%). Germany (10.4 bn or 20%) was also the largest importer, followed by the Netherlands (6.2 bn or 12%), Italy (5.9 bn or 11%), Poland (4.2 bn or 8%) and France (4.0 bn or 8%).

Most Member States recorded deficits in trade with Russia in the first half of 2009, the largest being observed in the Netherlands (-4.1 bn euro), Italy (-2.8 bn), Poland (-2.6 bn) and France (-1.6 bn). The highest surplus was recorded in Austria (+0.3 bn).

More than 40% of EU27 exports to Russia in the first half of 2009 were machinery and vehicles and another quarter were other manufactured goods, while energy accounted for nearly three quarters of imports. At the detailed level, the main EU27 exports to Russia included medicine, motor cars and parts, aircraft and mobile phones, while the main imports included oil, gas and coal.