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EU27 Surplus in Trade in Services Increased to 84 bn Euro in 2007
added: 2008-11-28

In 2007, EU27 external trade in services recorded a surplus of 84.1 billion euro, an increase compared with 68.5 bn in 2006 and 54.1 bn in 2005.

The increased surplus in 2007 was mainly due to higher surpluses in financial services (+30.8 bn in 2007 compared with +24.2 bn in 2006), transportation (+15.5 bn compared with +11.1 bn), computer & information services (+14.5 bn compared with +12.0 bn), insurance services (+6.9 bn compared with +4.0 bn) and construction services (+8.1 bn compared with +6.6 bn), and reduced deficits in personal, cultural & recreational services (-1.2 bn compared with -2.6 bn) and communications services (-0.4 bn compared with -1.1 bn). These improvements were partially offset by increased deficits in travel (-18.6 bn compared with -15.4 bn) and royalties & licence fees (-8.3 bn compared with -7.0 bn).

The significant surplus in "other business services", which includes miscellaneous business, professional and technical services, remained stable (+35.5 bn compared with +35.2 bn).

These data, issued by Eurostat, the Statistical Office of the European Communities, are subject to revision.

In 2007, the EU27 recorded a surplus in trade in services with all its main trading partners. The EU27 recorded an increased surplus with EFTA (+24.7 bn in 2007 compared with +20.9 bn in 2006), Russia (+7.2 bn compared with +3.7 bn), China (+4.0 bn compared with +1.5 bn), India (+2.5 bn compared with +1.5 bn) and Brazil (+1.6 bn compared with +0.6 bn). The surpluses with the USA (+11.4 bn compared with +11.7 bn), Japan (+5.6 bn compared with +5.4 bn), Canada (+2.0 bn compared with +1.9 bn) and Hong Kong (+0.1 bn compared with +0.4 bn) remained nearly stable.


Source: Eurostat

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