OREANDA-NEWS. The international trade in services of the European Union (EU) has increased steadily and significantly over the last six years. EU exports of services to the rest of the world rose by 42%, from €569.5 billion in 2010 to €811.2 bn in 2015, while imports grew slightly more rapidly (+43%) from €461.6 bn to €660.5 bn. As a consequence, the EU trade surplus in services, which had steadily increased between 2010 and 2013, has decreased for the second consecutive year in 2015 to €150.7 bn.

This growth in EU's international trade in services over the period 2010-2015 is around twice as high as the growth in the EU's international trade in goods over this same time period.

ICT and financial services boost EU surplus in trade in services

Accounting together for around a third of total extra-EU exports (32%) and imports (35%), transport and travel were in 2015 the main categories of services traded by the EU, along with other business services (28% and 29%).

The EU surplus in 2015 was mainly due to surpluses in telecommunications, computer and information services (+€58.9 bn), financial services (+€42.3 bn) and other business services (+€31.3 bn), while a significant deficit was recorded for charges for the use of intellectual property (-€43.1 bn).