EU27 trade in goods with Russia up by a third in the first nine months of 2010

After eight years of growth, EU27 trade in goods with Russia fell in 2009, with EU27 exports dropping by 38% and imports by 35%, compared with 2008. The EU27 trade deficit with Russia increased significantly from 41 billion euro in 2000 to 73 bn in 2008, then fell to 50 bn in 2009. The first nine months of 2010 showed a renewed growth in EU27 trade with Russia. Exports rose from 48 bn in the first nine months of 2009 to 61 bn in the same period of 2010, and imports from 83 bn to 113 bn. As a result, the EU27 trade deficit with Russia increased from 35 bn in the first nine months of 2009 to 52 bn in the same period of 2010. In the first nine months of 2010, Russia was the EU27's third most important trading partner after the USA and China, accounting for 6% of EU27 exports and 10% of EU27 imports. On the occasion of the 26th European Union - Russia summit, which will take place on 7 December in Brussels, Eurostat, the statistical office of the European Union, issues the latest data1 on trade between Russia and the EU.

Germany accounts for a third of EU27 exports to Russia. Among the EU27 Member States, Germany (18.8 bn euro or 31% of EU exports) was by far the largest exporter to Russia in the first nine months of 2010, followed by Italy (5.6 bn or 9%), France (4.4 bn or 7%) and the Netherlands (4.3 bn or 7%). Germany (21.8 bn or 19%) was also the largest importer, followed by the Netherlands2 (15.9 bn or 14%), Poland (9.7 bn or 9%), Italy (9.4 bn or 8%) and France (9.1 bn or 8%).

Most Member States recorded deficits in trade with Russia in the first nine months of 2010, the largest being observed in the Netherlands2 (-11.7 bn euro), Poland (-6.1 bn), France (-4.7 bn) and Italy (-3.8 bn). Surpluses were modest, the highest being recorded in Denmark and Austria (both +0.4 bn). Around 85% of EU27 exports to Russia in the first nine months of 2010 were manufactured goods, while energy accounted for almost three quarters of imports. At the detailed level, the main EU27 exports to Russia included medicine, motor cars, mobile phones and aircraft, while the main imports included oil, gas and coal.

News source: Eurostat link: publication