Trade between the European Union and India continues to grow: in the first ten months of 2011 the volume of trade grew by 20% in both imports and exports. Eurostat notes that, on the eve of the EU-India summit (scheduled for tomorrow in New Delhi), publishes the data relating to the commercial relations between the two subjects. Trade with the Asian giant, underlines the study, has been growing continuously since 2001, and only in 2009 was there a slowdown in import-export. In particular, exports of EU products went from a volume of 29,5 billion euros in 2008 to 25,4 billion in 2009, to then return to growth and reach a business of 33,2 billion euros in 2010. From then, from January to October last year, the sale of European products reached 33,4 billion euros, for a +20% compared to the same reference period of the previous year.
However, the trade balance is substantially balanced: to the 33,4 billion euros obtained from sales in India are added the 33,3 billion euros of goods purchased by Europe from India. However, the European statistical institute emphasizes "the slight surplus of 0,1 billion" with what is now the eighth most important trading partner.
Among the countries of the Europe-27, India's main trading partners are Germany (exports for 8,8 billion euros, equal to 26% of total EU exports), Belgium (6,6 billion, equal to 20% of the community quota sold), Britain (5 billion euros, or 15%), Italy (3,1 billion, 9% of the EU total) e France (2,5%, 7% of the EU total). In the first ten months of 2011 the largest surpluses in Europe were recorded by Germany (+3,2 billion) and Belgium (+1,9 billion), while the highest deficits were recorded in the Netherlands (-1,5 billion) , Italy and Spain (-1 billion in each of the two countries).
80% of European goods exported to India are represented by machinery, vehicles and manufactured products, but in 2010 services were sold for 10,9 billion compared to purchases from India for 8,7 billion: the EU, in the services sector, therefore records a surplus of 2,2 billion.
