GG-EU-Mercosurv1908-02

According to Eurostat data, in 2017, EU service exports to Mercosur amounted to €23 billion, while EU service imports from Mercosur totalled €11 billion. Figure 3 shows that EU-Mercosur trade in services has witnessed less fluctuations than Mercosur trade in services with the world. Transport, travel and other business services taken together accounted for the lion’s share both of EU exports to Mercosur and imports from it. Owing to the current level of restrictions in Mercosur as measured by the World Bank service trade restrictiveness index, telecommunication, financial and insurance services had a much lower share and offer a huge potential.