The preliminary results of the EU-27's current account balance for 2006 showed a deficit of €85.5 billion compared with €66.1 billion in 2005 and €20.6 billion in 2004. This result was mainly due to a growing deficit in goods and current transfers balances (-€168.5 billion and -€51.3 billion respectively). In contrast, the EU-27 continued to increase its external surplus in the servic…
In 2006, EU-27 international trade in services with Brazil, Russia, India and China (BRIC) registered exports with a total value of €46.0bn and imports worth €39.0bn. The EU trade in services balance with BRIC countries registered a permanent surplus during the period 2004 to 2006. In 2006, the surplus amounted to €7.0bn. Since 2004, China has been the EU’s main trading partner among th…
One of the major achievements of the European Union is the free movement of goods, services, capital and labour between the Member States. The Internal Market remains one of the Union’s most important and continuing priorities. Services are increasingly important in the Internal Market. They account for about 70% of gross value added and 69% of employment in the EU-27. In recent decades their…