European Service Industries for International Trade Negotiations in Services
Explore the significance of trade in services between the European Union and the Philippines, highlighting the EU's leading role in global service exports. Gain insights into trade statistics, top exporters, EU trading partners, and the importance of services trade according to the European Service Industries. Dive into the data and trends shaping international trade negotiations in the services sector.
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The voice of the European Service Industries for International Trade Negotiations in Services The importance of Trade in Services in Trade between EU & Philippines January 2024
The voice of the European Service Industries for International Trade Negotiations in Services The share of Trade in Services in the EU GDP is higher than in other high-income countries! 30% (16.4 % in Philippines) Trade in Services (GDP) (%) 35 European Union High Income Middle Income Low Income Philippines 30 30 27.6 26.4 26 25.5 25.3 25 18.9 20 18.4 18.3 13.8 18.6 16.5 16.4 15.2 15 14.6 12.2 12.8 8.4 11.4 10.7 10 8.4 9 9.7 8.6 8.6 7.5 6.8 6.6 8.1 5 The share of Trade in Services in Indonesia GDP is 88% lower than Middle Income countries average, and 600% lower than in the EU! 0 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: https://data.worldbank.org/indicator/BG.GSR.NFSV.GD.ZS
TOP 20 WORLD EXPORTERS 2568 The voice of the European Service Industries for International Trade Negotiations in Services OF TRADE IN SERVICES 2500 2017 2018 2019 2020 2021 2022 2000 EU is the first largest global exporter of services 1500 1325 Philippines = 28th 1000 897 487 500 422 313 291 163 154 151 129 122 93 90 84 58 51 50 48 40 0 Total World Export of services 2022 (excl. Intra EU) = 5833 Bio US$ - trade outlook 2022 Bio US$ Source: WTO Trade Statistical Review & Global
The voice of the European Service Industries for International Trade Negotiations in Services TOP 25 EU TRADING PARTNERS IN SERVICES TOP 25 EU TRADING PARTNERS IN SERVICES - - (EXTRA (EXTRA- -EU27) EU27) 2022 2022 - - BIO BIO 695.4 55,000 54.2 50.7 NEW ZEALAND IS 36TH EU TRADING PARTNER 500,000 50.8 396,175 467.2 45.5 28 45,000 41.4 400,000 35.4 35.3 210,627 35.2 35,000 30.8 300,000 28.9 28.2 226.3 25,000 22.5 17.9 21.3 200,000 18.1 81,288 17.115.814.3 11.5 299,227 15,000 112.9 11.5 256,569 6.5 77.5 100,000 48,293 145,027 41,109 5,000 64,668 36,445 0 -5,000 EU27 Exports EU27 Imports Source: Eurostat bop_its6_det.
The voice of the European Service Industries for International Trade Negotiations in Services IMPORTANCE OF TRADE IN SERVICES EU27 (Extra EU) Comparison between Balance of Payment (BoP) & Trade in Value Added TiVA EU Exports in TiVA - 2016 - % EU Exports in BOP - 2022 Bio$ 33.6% 66.4% 41.1 1300 58.9 2572 Goods Services Goods Services Total Export Extra EU27= 3872 $Bio Source: WTO WTS2020 & OECD/WTO TiVA
The voice of the European Service Industries for International Trade Negotiations in Services IMPORTANCE OF TRADE IN SERVICES in Indonesia Comparison between BoP & TiVA Philippines Exports in TiVA - 2016 - % - Philippines Global Exports in BOP - 2022 Bio US$ - % - 7.3% 92.7% 50.4 40 79 49.6 Goods Services Goods Services Total Export Philippines = 119 $Bio Source: WTO WTS2018 & TiVA
The voice of the European Service Industries for International Trade Negotiations in Services EU27-Philippines Trade & Investment (Imports and exports of goods & services) Trade in Services ( Bio) Trade in Goods ( Bio) 4,000 12000 10783 3,479 3,500 3,090 10000 2,595 8168 7282 3,000 2,666 7404 7465 2,336 7057 6518 2,555 7590 7030 7094 8000 2,500 5992 1,911 1,897 1,991 1,947 1,994 2,035 5768 2,000 6000 1,500 4000 1,000 2000 500 44 14 0 0 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 -259 -500 -61 -389 -188 -750 -1111 -520 -2000 -1038 -672 -1,000 -3193 EU Exports EU Imports Balance -4000 EU Exports EU Imports Balance Source: Eurostat - [ext_lt_maineu] + [bop_its6_det]
The voice of the European Service Industries for International Trade Negotiations in Services PHILIPPINES TRADE RELATIONSHIP EU Services represent 29% of the total exports to EU Services represent 29% of the total exports to Philipinnes And Philippines Services exports represent 19.6% of total exports to EU27 And Philippines Services exports represent 19.6% of total exports to EU27 IMPORTANCE OF TRADE IN SERVICES IN THE EU IMPORTANCE OF TRADE IN SERVICES IN THE EU- -PHILIPPINES TRADE RELA TIONSHIP Philipinnes EU27 Exports to Philippines - 2022 - Mio EU & Philippines Total volume of trade 2021 Mio - % Philippines Exports to EU - 2021 - Bio 29% 71% 19.6% 80.4% 73.7% 26.3% 6,569 3,479 3,090 7,590 18,373 10,783 Goods Services Total exports: 10,680 Mio Total exports: 17,742 Mio Total exports: 24,942 Mio Source: Eurostat bop_its6_det.
The voice of the European Service Industries for International Trade Negotiations in Services EU27 Trade in Services with Philippines Evolution of EU Trade in Services with Philippines Mio - 2013-2022 3,479 3,300 2,7 2,555 2,595 2,800 3,090 2,076 2,300 1,947 2,336 2,121 1,892 1,842 2,115 1,660 1,800 1,991 1,911 1,8661,790 1,430 1,300 EU services exports to Philippines = +144% in 10 years Philippines services exports to EU = +143% in 10 years 1,283 1,264 800 300 24 19 44 -200 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 -166 -259 -286 -389 -440 -377 -700 -650 Balance Exports Imports Source: Eurostat bop_its6_det.
The voice of the European Service Industries for International Trade Negotiations in Services EU27 Services Exports and Imports with Philippines per sectors (2022 - Million) Exports - Total 3089.9 Imports - Total: 3479.4 34 of EU27 Exports 37.4% of Philippines Exports 1200 1000 1048.6 24.2% 800 820.9 788.5 24.5% 747.9 26.5% 600 17.8% 15.3% 585.3 474.2 400 318.3 ??? 288.2 200 245.7 235.6 122.9 89.8 49.8 16.4 30.6 11.9 78.8 16.9 12.4 12.3 0.4 9.5 8.4 69 0 -200 -400 -714.2 -600 -800 Source: Eurostat 2021 Note: Other business services comprise mainly: research and development, professional and management consulting services, technical, trade-related services. Source: Eurostat bop_its6_det.
The voice of the European Service Industries for International Trade Negotiations in Services EU 27 FDI with Philippines Million 19613 20000 18000 16000 14445 14347 14025 13868 14000 13174 13004 12695 12000 10000 8000 5673 5428 6000 5123 4000 2764 1755 2000 1015 948 895 868 857 715 520 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: Eurostat [bop_fdi6_pos] Outward FDI Inward FDI
The voice of the European Service Industries for International Trade Negotiations in Services EU 27 FDI with Philippines Million 19613 20000 18000 16000 14445 14347 14025 13868 14000 13174 13004 12695 12000 10000 7250 8000 6489 5673 5428 6000 4000 2000 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: Eurostat [bop_fdi6_pos] Outward FDI Share of Services in Outward FDI
The voice of the European Service Industries for International Trade Negotiations in Services EU 27 FDI with Philippines Million Share of Services in EU Inward FDI 7000 6000 5123 5000 4000 2764 3000 1755 2000 1015 948 895 868 857 785 1000 715 557 520 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Source: Eurostat [bop_fdi6_pos] Inward FDI Services share of Outward FDI
