EPRS Admin By / November 12, 2020

EU exports and imports of goods to and from ASEAN

Development of EU exports and imports of goods to and from ASEAN

EU exports and imports of goods to and from ASEAN

With a 5.2 % share in goods trade, ASEAN was the EU’s third largest goods trading partner outside Europe in 2019, after the United States and China, whereas the EU was the bloc’s third largest trading partner in goods, following China and the United States. Between 2009 and 2019, total trade in goods more than doubled from €102 billion to €210.6 billion. This increase in trade was, however, coupled with a constant negative trade balance on the EU side. In 2019, the deficit totalled €39.6 billion.
The EU’s total trade in services with ASEAN reached €88.3 billion in 2017, with a surplus of €5.5 billion on the EU side. This was more than twice as high as the 2007 level of trade (€40 billion). In 2017, EU–ASEAN total trade in services made up approximately 5.4 % of the EU’s total services trade with the rest of the world.
In recent years, the EU has remained the most significant source of foreign direct investment (FDI) in the region. In 2018, the EU accounted for 14.2 % of ASEAN FDI inflows, followed by Japan (13.7 %) and China (6.6 %). In 2017, EU outward FDI stock reached €337 billion in the region; compared to 2013 (€170.6 billion), an increase of 93.73 %. Totalling €141 billion in 2017, ASEAN investment in Europe constitutes an increase of around 144 % compared to 2013 (€56.8 billion).

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