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EU surplus in trade in services up significantly in 2013

Xinhua, February 6, 2015 Adjust font size:

The European Union (EU) surplus in trade in services increased to 178 billion euros (about 203 billion U.S. dollars) in 2013, compared with the level of 161 billion euros (183 billion dollars) in 2012, EU' s statistical office Eurostat said on Friday.

EU exports of services rose by 5 percent from 676 billion euros (770 billion dollars) in 2012 to 710 billion euros (809 billion dollars) in 2013, and imports increased by 3 percent, from 515 billion euros (587 billion dollars) to 532 billion euros (606 billion dollars), said Eurostat.

EU international trade in services were mainly composed of "other business services" (R&D, business, professional and technical services), which accounted for 25 percent of EU's total exports and 29 percent of imports, followed by transport services, travel services, telecommunications, computer and information services and financial services.

The services that contributed most to the surplus were financial services at 43.5 billion euros (50 billion dollars), followed by Information Communication Technology (ICT) services and other business services.

The United States and the four European Free Trade Association (EFTA) countries continued to be the two main partners of the EU in international trade in services, while the largest surplus was observed in trade with the EFTA countries, followed by the United States, Russia and Japan. Endi