In 2022, EU countries exported services worth €1 361 billion to countries outside of the EU (+25% compared with 2021). Extra-EU imports stood at €1 155 billion (+21% compared with 2021). This marks a strong recovery after the dip experienced in 2020 due to the impact of the COVID-19 pandemic and the related sanitary measures.
This information comes from data on EU trade in services published by Eurostat today.
Source dataset: bop_its6_det
Since 2010, the EU trade in services balance rose from €76 billion to a peak of €137 billion in 2018, before declining by more than half in 2019 (€55 billion) and further dipping in 2020 (€12 billion). In 2021, it rebounded to €140 billion and reached €206 billion in 2022.
USA and the UK: leading trade partners
In 2022, the EU’s leading trade partners for services were the United States (22% of extra-EU exports) and the United Kingdom (19%), ahead of Switzerland (11%).
Source dataset: bop_its6_det
The United States was the origin of more than a third (34%) of the services imported into the EU from non-member countries, followed by the United Kingdom (18%), and Switzerland (7%).
Source dataset: bop_its6_det
Trade in services with Russia drops
In 2022, there was a 22% decline in services exported from the EU to Russia compared with 2021. At the same time, imports from Russia also saw an 11% decrease.
