EU27, Russia trade reached record levels in 2012

EU-Russia summit

An EU27 deficit of 90 bn euro with Russia in 2012

3-6-2013 — /europawire.eu/ — Following a sharp fall in 2009, EU27 international trade in goods with Russia has grown strongly since then to reach record levels in 2012. After falling from 105 billion euro in 2008 to 66 bn in 2009, EU27 exports to Russia have risen continuously to a peak of 123 bn in 2012. Imports followed the same pattern: a fall from 178 bn in 2008 to 118 bn in 2009, then continuous growth to a record level of 213 bn in 2012. As a result, the EU27 trade deficit with Russia rose from 52 bn in 2009 to 90 bn in 2012. The deficit in 2012 is primarily due to EU27 imports of energy from Russia (163 bn), partially offset by EU27 exports of manufactured goods (108 bn). In 2012, Russia was the EU27’s third most important trading partner after the USA and China, accounting for 7% of EU27 exports and 12% of EU27 imports.

On the occasion of the 31st European Union – Russia summit, which will take place on 3 and 4 June in Yekaterinburg in Russia, Eurostat, the statistical office of the European Union, issues the latest data on trade and investments between Russia and the EU.

Germany, Italy and France main EU27 exporters to Russia

Among the EU27 Member States, Germany (37.9 bn euro or 31% of EU exports) was by far the largest exporter to Russia in 2012, followed by Italy(10.0 bn or 8%) and France (9.1 bn or 7%). Germany (39.8 bn or 19% of EU imports) was also the largest importer, followed by the Netherlands1(29.4 bn or 14%), Poland (21.6 bn or 10%) and Italy (18.3 bn or 9%).

Most Member States recorded deficits in trade with Russia in 2012, the largest being observed in the Netherlands1 (-21.1 bn euro), Poland (-13.8 bn), Italy (-8.3 bn), the United Kingdom (-5.9 bn), Greece (-5.5 bn) and Spain (-5.0 bn). The highest surpluses were recorded in Denmark (+0.9 bn) and Slovenia (+0.8 bn).

Just over 85% of EU27 exports to Russia in 2012 were manufactured goods, while energy accounted for more than three quarters of imports.

EU27 international trade in goods with Russia

EU27 Member States’ international trade in goods with Russia

million euro

Exports Imports Balance
2011 2012 2011 2012 2011 2012
EU27 108 355 123 262 199 922 213 212 -91 567 -89 951
Belgium1 4 686 5 410 8 901 8 510 -4 216 -3 100
Bulgaria 542 562 4 127 5 300 -3 585 -4 738
Czech Republic 3 758 4 796 5 235 5 820 -1 476 -1 024
Denmark 1 516 1 577 1 032 706 484 871
Germany 34 378 37 928 38 309 39 781 -3 931 -1 853
Estonia 1 313 1 515 1 031 924 282 591
Ireland 500 599 102 78 397 521
Greece 412 464 4 892 5 967 -4 480 -5 504
Spain 2 526 2 930 8 329 7 979 -5 802 -5 049
France 7 484 9 145 13 305 11 017 -5 821 -1 872
Italy 9 305 9 993 16 904 18 331 -7 599 -8 338
Cyprus 19 19 24 56 -5 -36
Latvia 1 643 1 972 975 1 226 668 746
Lithuania 3 340 4 355 7 316 8 085 -3 976 -3 730
Luxembourg 220 189 13 4 207 185
Hungary 2 586 2 566 6 379 6 447 -3 793 -3 880
Malta 1 36 3 3 -2 33
Netherlands1 7 098 8 360 25 956 29 438 -18 859 -21 078
Austria 3 559 4 109 3 093 3 734 466 375
Poland 6 080 7 731 18 078 21 558 -11 998 -13 827
Portugal 140 182 563 476 -423 -293
Romania 1 018 1 049 2 093 2 387 -1 075 -1 338
Slovenia 969 1 151 408 379 562 772
Slovakia 2 090 2 638 6 212 5 884 -4 122 -3 245
Finland 5 337 5 688 11 072 10 535 -5 736 -4 847
Sweden 3 058 2 720 7 181 7 071 -4 123 -4 350
United Kingdom 4 778 5 574 8 390 11 516 -3 612 -5 941
Total extra-EU27 1 559 339 1 686 774 1 724 207 1 791 726 -164 868 -104 953
Russia / Total 6.9% 7.3% 11.6% 11.9%

EU27 international trade in goods with Russia by product

million euro

Exports Imports Balance
2011 2012 2011 2012 2011 2012
Total 108 355 123 262 199 922 213 212 -91 567 -89 951
Primary goods: 12 140 13 557 157 658 168 557 -145 518 -155 001
Food & drink 9 091 9 906 999 1 427 8 093 8 478
Raw materials 1 981 2 256 4 466 4 469 -2 485 -2 213
Energy 1 068 1 395 152 193 162 661 -151 125 -161 267
Manufactured goods: 94 688 108 055 22 759 22 383 71 929 85 671
Chemicals 17 830 19 443 5 716 6 262 12 113 13 181
Machinery & vehicles2 52 219 61 212 1 685 2 089 50 534 59 122
Other manuf’d goods2 24 639 27 400 15 357 14 032 9 282 13 368
Other 1 527 1 650 19 505 22 272 -17 978 -20 621

EU27 surplus of 13 bn in international trade in services with Russia in 2012

In 2012, the EU27 exported 28.3 bn euro of services to Russia, while imports amounted to 15.3 bn, meaning that the EU27 had a surplus of 13.1 bn in trade in services with Russia, compared with +9.8 bn in 2010 and +9.6 bn in 2011. The surplus in 2012 was mainly due to surpluses for travel (+7.9 bn), computer & information services (+2.0 bn), other business services3 (+1.2 bn), financial services (+1.0 bn) and royalties and licence fees (+0.9 bn). Russia accounted for almost 4% of total extra-EU27 trade in services.

EU27 international trade in services with Russia

million euro

Exports Imports Balance
2010 2011 2012 2010 2011 2012 2010 2011 2012
Total 23 444 23 780 28 312 13 671 14 194 15 252 9 773 9 586 13 060
of which:
Transportation 4 769 5 463 6 231 6 737 6 852 6 754 -1 967 -1 389 -524
Travel 5 588 7 523 9 993 1 790 1 870 2 094 3 798 5 653 7 899
Other services 13 089 10 785 12 079 5 131 5 454 6 386 7 958 5 331 5 693
of which:
Communications services 555 571 646 365 363 437 190 208 209
Construction services 1 696 1 282 1 069 725 897 787 971 385 281
Insurance services 102 247 300 222 220 327 -120 27 -27
Financial services 2 375 1 818 1 524 437 470 547 1 938 1 349 977
Computer and information services 1 585 1 611 2 146 146 135 190 1 439 1 476 1 956
Royalties and license fees 640 868 911 35 42 52 605 826 859
Other business services3 5 830 3 983 5 124 3 040 3 173 3 881 2 791 810 1 243
Personal cultural and recreational services 146 228 203 60 65 83 86 163 120
Government services n.i.e. 159 178 156 101 89 82 58 89 75
Total extra-EU27 561 033 607 363 657 387 461 834 481 220 510 641 99 199 126 143 146 746
Russia / total extra-EU27 4.2% 3.9% 4.3% 3.0% 2.9% 3.0%

Large fluctuations in EU27 FDI flows with Russia

EU27 Foreign Direct Investment (FDI) into Russia rose from 8.8 bn euro in 2009 to 27.6 bn in 2010, fell to 8.2 bn in 2011, then increased to 9.4 bn in 2012, while Russian direct investment into the EU27 decreased from 12.5 bn in 2009 to 7.0 bn in 2010 and 1.8 bn in 2011 and then rose to 7.4 bn in 2012.

EU27 FDI flows with Russia

(million euro)

2009 2010 2011 2012*
EU27 FDI in Russia 8 790 27 633 8 177 9 418
Russian FDI in the EU27 12 496 7 022 1 827 7 415

* Provisional

  1. Dutch imports and therefore the trade deficit are over-estimated because of the “Rotterdam effect” where goods destined for the rest of the EU arrive, and are therefore recorded in harmonised EU external trade statistics, in Dutch ports. This then has a positive effect on the external trade balances with Russia of those Member States to which the goods are re-exported as these shipments would be recorded as intra-EU trade with the Netherlands rather than extra-EU trade with Russia. To a lesser extent, Belgian trade figures are similarly over-estimated.
  2. Machinery and vehicles includes power generating and industrial machinery, computers, electric and electronic parts and equipment, road vehicles and parts, ships, airplanes and railway equipment.

Other manufactured goods include leather, rubber, wood, paper, textiles, metals, building fixtures and fittings, furniture, clothes, shoes and accessories, scientific instruments, clocks, watches and cameras.

  1. Other business services comprise merchanting and other trade-related services, operational leasing services and miscellaneous business, professional and technical services.
Published by:Eurostat Press OfficeLouise CORSELLI-NORDBLAD

Tel: +352-4301-33 444

eurostat-pressoffice@ec.europa.eu

 

Eurostat News Releases on the internet:

http://ec.europa.eu/eurostat

For further information oninternational trade in goods data:Gilberto GAMBINI

Tel: +352-4301-35 806

estat-etfree@ec.europa.eu

For further information on

international trade in services data:

Hionia VLACHOU

Tel: +352-4301-33 478

hionia.vlachou@ec.europa.eu

For further information on FDI data:

Radoslav ISTATKOV

Tel: +352-4301-30 101

radoslav.istatkov@ec.europa.eu

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