Provisional data show that in 2022, EU members exported services worth €1 300 billion to countries outside of the EU, a 22% increase compared with 2021 (€1 067 billion).
EU imports also recorded a significant increase in 2022, reaching €1 126 billion, a 19% rise compared with 2021 (€945 billion).
As a result, the EU trade surplus for services hits €175 billion in 2022, the highest value in the last ten years, and a rapid rebound from €9 billion surplus recorded in 2020.
The impact of the COVID-19 crisis in 2020 led to a substantial fall in both the value of EU exports (€919 billion, -14% compared with 2019) and imports (€910 billion, -11%), however, both rebounded to a record high in 2022. (...)
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