Between 2000 and 2007, EU27 exports of goods to Japan fell slightly in value, from 45.5 bn euro to 43.7 bn, while EU27 imports from Japan decreased by 15%, from 92.1 bn to 77.9 bn. As a result the EU27 deficit in trade with Japan declined from 46.6 bn in 2000 to 34.2 bn in 2007.

The share of Japan in the EU27's total external trade in goods has fallen by a third between 2000 and 2007. In 2007, Japan accounted for 4% of EU27 exports and 6% of EU27 imports, and was the EU27's fifth most important trading partner.

On the occasion of the European Union - Japan summit, which will take place on Wednesday 23 April 2008 in Tokyo, Eurostat, the Statistical Office of the European Communities, issues data on trade in goods and services and FDI flows between the EU and Japan.

Germany and United Kingdom largest EU traders with Japan

Among the EU27 Member States, Germany was by far the largest exporter to Japan in 2007, with 13.0 bn euro, or 30% of the total, followed by France (5.8 bn or 13%), the United Kingdom (5.5 bn or 13%) and Italy (4.3 bn or 10%). Germany (18.2 bn or 23%) was also the largest importer, followed by the United Kingdom (11.3 bn or 15%) and the Netherlands (11.1 bn or 14%).

Most Member States recorded trade deficits with Japan in 2007. The largest were observed in the Netherlands (-8.5 bn), the United Kingdom (-5.8 bn), Germany (-5.2 bn), Belgium (-4.9 bn) and Spain (-3.4 bn). The only significant surpluses were registered in Denmark (+0.8 bn) and Ireland (+0.7 bn).

More than a third of EU27 exports to Japan in 2007 were machinery and vehicles and a quarter were other manufactured articles, while machinery and vehicles accounted for three quarters of imports. At the detailed level, the main EU27 exports to Japan were motor cars, medicine and pork while the main imports were motor cars and parts, printers and digital cameras.

More than half of the EU27 surplus in services comes from financial services and travel

In 2006, the EU27 exported 18.9 bn euro of services to Japan, while imports of services from Japan amounted to 12.9 bn, meaning that the EU27 had a surplus of 6.0 bn in trade in services with Japan. This surplus was mainly due to financial services (+2.4 bn), as well as travel (+1.5 bn) and transportation (+0.7 bn). Japan accounted for 4% of total extra-EU27 trade in services.

Large variation in EU27 FDI flows with Japan

Foreign Direct Investment (FDI) flows between the EU27 and Japan show large variations, with EU27 investment in Japan of 5.8 bn in 2004, 11.9 bn in 2005 and 0.5 bn in 2006. On the other hand, Japan invested 8.2 bn in the EU27 in 2004, recorded disinvestment of 4.6 bn in 2005, then invested 13.6 bn in 2006.