EU: Huge surplus in the trade of services with the rest of the world


EU Trade Commissioner Karel De Gucht

A regular criticism neo-liberal economist pen down against the European Union is that Europe is not competitive enough. They blame for that the high EU standards of social protection and the strict labour legislation. They fail to see however that the Eurozone and even the entire European Union, is highly competitive in the crucial sector of services. It seems that ideology can be a serious disease causing blindness! That is why neo liberals cannot see that Europe, despite its high social standards in every respect, can also be very competitive. Let the numbers tell this story.

According to Eurostat, the EU’s Statistical Service, EU27’s international trade in services increased in 2011, with EU27 exports of services to the rest of the world rising by 7%, from €567 billion in 2010 to €604bn in 2011. By contrast EU27’s imports of services rose by 4%, from €464bn to €483bn. As a result, EU27 trade in services recorded a surplus of €121bn in 2011, compared with a surplus of €103bn in 2010 and €83bn in 2009.

For details see: http://europa.eu/rapid/press-release_STAT-12-164_en.htm?locale=en

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