EU trade balance of services 2013-2022

Throughout the decade of the 2010s, the European ran a surplus with the rest of the world in the trade of services. This surplus declined during the decade, reaching its lowest point in 2020, before rebounding in 2021. The external trade of services is an important component of the European economy, as the EU is attempting to manage a transition towards an economy which deals more with digital services which require highly skilled 'knowledge' workers, from an economy which relies on heavy industries such as manufacturing.