EU27 international trade in goods with the Community of Latin American and Caribbean States1 (CELAC) has been characterised in recent years by steady growth between 2003 and 2008, a sharp decline in 2009 and a strong recovery since then. EU27 exports to CELAC rose from 66 billion euro in 2009 to 90 bn in 2010 and 101 bn in 2011. Imports increased from 75 bn in 2009 to 96 bn in 2010 and 113 bn in 2011. Between 2003 and 2011, the EU27 has always recorded a trade deficit with CELAC, amounting to 12 bn in 2011.

The first nine months of 2012 showed continued growth in EU27 trade with CELAC, with exports growing faster than imports. Exports rose by 16%, from 75 bn in the first nine months of 2011 to 87 bn in the same period of 2012, while imports increased by 2%, from 85 bn to 87 bn. As a result, EU27 trade with CELAC was in balance in the first nine months of 2012, compared with a deficit of 10 bn in the same period of 2011. In the first nine months of 2012, CELAC accounted for just under 7% of EU27 exports and imports.

Germany largest trading partner of CELAC amongst EU27 Member States

Among the EU27 Member States, Germany (24.4 bn euro or 28% of the total) was by far the largest exporter to CELAC in the first nine months of 2012, followed by Italy (10.6 bn or 12%), Spain (10.4 bn or 12%) and France (9.7 bn or 11%). The Netherlands3 (17.0 bn or 20%) was the largest importer, followed by Spain (15.5 bn or 18%), Germany (13.5 bn or 16%), the United Kingdom (9.9 bn or 11%) and Italy (7.7 bn or 9%).

The largest surpluses in trade with CELAC in the first nine months of 2012 were recorded by Germany (+10.9 bn euro), France (+3.8 bn) and Italy (+2.9 bn), and the largest deficits by the Netherlands3 (-9.8 bn), Spain (-5.0 bn) and the United Kingdom (-3.9 bn).

Brazil, Mexico, Argentina and Chile largest trading partners of the EU27 amongst CELAC

Among the 33 members of the CELAC, Brazil (29.6 bn euro, or 34% of the total) was the leading destination for EU27 exports in the first nine months of 2012, followed by Mexico (20.7 bn or 24%), Argentina (6.5 bn or 8%) and Chile (6.1 bn or 7%). The leading sources of EU27 imports from CELAC were also Brazil (28.5 bn or 33%), Mexico (14.3 bn or 17%), Argentina (7.7 bn or 9%) and Chile (7.4 bn or 9%). The largest surpluses in trade with CELAC were registered with Mexico (+6.3 bn euro) and Panama (+1.8 bn), and the largest deficits with Costa Rica (-4.4 bn), Colombia (-2.3 bn) and Peru (-2.2 bn).

An EU27 surplus of 12.8 bn euro in trade in services with CELAC in 2011

In 2011, the EU27 exported 37.7 bn euro of services to CELAC, while imports amounted to 24.9 bn, meaning that the EU27 had a surplus of 12.8 bn. CELAC accounted for nearly 6% of the EU27's total trade in services in 2011.

Among the members of the CELAC, and as for trade in goods, Brazil, Mexico, Argentina and Chile were the largest traders of services with the EU27 in 2011. The EU27 registered its largest surpluses in services with Brazil (+4.3 bn), Mexico (+2.6 bn) and Venezuela (+2.3 bn), and its largest deficit with Barbados (-0.7 bn).