Almost complete recovery for EU-27 trade in 2010

via Eurostat Statistics in focus Issue number 39/2011

The sum of EU-27 imports and exports to countries outside the EU rose by almost one quarter between 2009 and 2010.

Exports recovered to a higher level than seen in 2008, while imports rose by more than exports, leading to an increase in the overall trade deficit of over EUR billion 43. EU-27 remained the largest player in the world in trade in goods in 2009, the latest year for which comparable data are available.

EU-27’s exports of goods to the United States rose by less than the overall average, but this nevertheless remained by far the most important destination. However, exports to China rose by over one third between 2009 and 2010, making this the second largest trading partner for EU-27 exports for the first time.

China remained the largest source of EU-27 imports in 2010, recording a rise of 32% since 2009. In contrast, EU-27 imports from the United States rose by only 6%, though this still remained the second largest source of EU-27 imports. EU-27 exports of machinery and vehicles rose by a quarter in 2010, making up 42% of exports.

The largest percentage rises in exports were in raw materials and energy products, both of which rose by well over 30%. Imports to the EU-27 of machinery and vehicles and of energy products both rose by over a quarter, accounting together for more than 60% of the overall rise in EU27 imports. While most member states recorded increases in total trade in 2010, Ireland and Luxembourg both recorded falls in imports.

Full details (PDF 8pp) with clear graphs and charts to make the understanding easier (remember, I’m the visual learner!)

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