The USA remained the EU's largest trading partner for both goods and services at the end of the first half of 2011. However, there has been a steady decline in the share of the USA in total EU27 trade in goods over the last decade. While in 2000, the USA accounted for 28% of total EU27 exports and 21% of imports, by 2010 these shares had fallen to 18% and 11% respectively.

After a significant decrease in 2009, the value of EU27 trade in goods with the USA partially recovered in 2010: exports rose to 242 billion euro in 2010 compared with 206 bn in 2009 and 250 bn in 2008, and imports to 170 bn compared with 159 bn in 2009 and 187 bn in 2008. This recovery continued in the first half of 2011, with EU27 exports to the USA increasing to 129 bn compared with 114 bn in the same period of 2010 and imports rising to 94 bn compared with 83 bn. As a result, the EU27 trade surplus with the USA increased from 31 bn in the first half of 2010 to 35 bn in the same period of 2011.

Germany and the United Kingdom largest EU traders with the USA

Among the EU27 Member States, Germany (35 bn euro or 27% of EU exports of goods) was by far the largest exporter to the USA in the first half of 2011, followed by the United Kingdom (20 bn or 16%), Italy (12 bn or 9%), France (11 bn or 9%) and Ireland (11 bn or 8%). Germany (18 bn or 19% of EU imports of goods) was also the largest importer, followed by the United Kingdom (17 bn or 18%), the Netherlands (13 bn or 14%) and France (11 bn or 12%).

Most Member States recorded a surplus in trade with the USA in the first half of 2011. Germany (+17 bn) recorded the largest surplus, followed by Ireland (+7 bn), Italy (+5 bn) and the United Kingdom (+4 bn). The largest deficit was observed in the Netherlands1 (-5 bn).

EU27 trade with the USA is dominated by manufactured goods, which accounted for more than 80% of both exports and imports in the first half of 2011.