During the first ten months of 2011, the EU27 trade with India has increased by 20 percent with exports accounting for EUR 33.4 billion and imports registering EUR 33.3 billion, a study released by EU’s statistical office Eurostat indicates.

According to the source, EU27 trade with India has registered a steady increase over the last decade, reaching 2.7 percent of EU27 exports and 2.4 percent of EU27 imports in the first ten months of 2011.

The survey has also shown that among EU27 states, Germany was the largest exporter to India in the first ten months of 2011, with EUR 8.8 billion or 26 percent of EU27 exports, followed by Belgium with EUR 6.6 billion (20 percent of EU27 exports), the UK with EUR 5 billion (15 percent of EU27 exports), Italy with EUR 3.1 billion (9 percent of EU27 exports) and France with only EUR 2.5 billion (7 percent of EU27 exports).

Research has also indicated that the UK and Germany were the largest importers, with EUR 5.6 billion or 17 percent of EU27 imports and EUR 5.5 billion or 17 percent of EU27 imports respectively, followed by Belgium (EUR 4.7 billion or 14 percent of EU27 imports), Italy (EUR 4.1 billion or 12 percent of EU27 imports) and France (EUR 3.4 billion or 10 percent of EU27 imports).

According to the report, the largest surpluses in trade with India have been registered in Germany (+3.2 billion) and Belgium (+1.9 billion) and the highest deficits in the Netherlands1 (-1.5 billion), Italy and Spain (both -1.0 billion).

Regarding merchandises, the Eurostat results have pointed out that machinery and vehicles as well as other manufactured goods have represented almost 80 percent of EU27 exports to India in the first ten months of 2011, while other manufactured goods such as leather, rubber, wood, paper, textiles, metals, building fixtures and fittings, furniture, clothes, shoes and accessories accounted for almost 50 percent of imports.