Between 2000 and 2007, EU27 trade in goods with Russia nearly tripled in value. This rapid growth continued in the first six months of 2008, with the value of EU27 exports to Russia rising to 50 bn euro from 40 bn in the first half of 2007, and imports rising to 88 bn from 69 bn.

The share of Russia in the EU27's total external trade in goods nearly doubled between 2000 and 2007. In the first half of 2008 the share rose further, with Russia accounting for nearly 8% of EU27 exports and more than 11% of EU27 imports. Russia was the EU27's third most important trading partner, after the USA and China.

On the occasion of the 22nd European Union - Russia summit, which will take place on 14 November in Nice, Eurostat, the Statistical Office of the European Communities, issues data on trade and investments between Russia and the EU.

Germany, the Netherlands and Italy the largest trading partners of Russia amongst Member States

Among the EU27 Member States, Germany (16 bn euro, 31% of EU exports) was by far the largest exporter to Russia in the first six months of 2008, followed by Italy (5 bn or 10%) and Finland (4 bn, 7%). Germany (16 bn or 19%) was also the largest importer, followed by the Netherlands (11 bn or 12%) and Italy (8 bn or 9%).

Only six Member States recorded small surpluses in trade with Russia in the first six months of 2008, while the other Member States registered deficits. The largest deficits were observed in the Netherlands2 (-7 bn euro), Poland (-4 bn), France, Spain and Italy (all -3 bn).