BRUSSELS, Feb 19 (NNN-KUNA) — Exports from the six-member Gulf Cooperation Council (GCC) to the 27-member European Union (EU) fell to Euro 21.770 billion in 2009 from Euro 34.715 billion in 2008.
EU exports to the GCC also dropped to Euro 57.770 billion in 2009 from Euro 68.969 billion in 2008. EU-GCC trade was in favour of EU by Euro 36 billion in 2009 and by Euro 31.55 billion in 2008.
The figures were received by KUNA Thursday from Eurostat, the EUs statistical office.
The bulk of GCC exports to EU countries was oil valued at Euro 15.549 billion in 2009 and Euro 28.636 billion in 2008. Other goods exported to EU countries from GCC states included chemicals, live animals and beverages.
Chemicals, manufactured goods, food and live animals formed the bulk of goods exported by EU countries to the GCC.
Germany continued to be the GCC’s leading trade partner with exports valued at Euro 13.559 billion and imports at Euro 1.109 billion in 2009, and Euro 17.288 billion of exports and Euro 2.061 billion of imports in 2008.
Britain was the second largest trading partner of the GCC in 2009 with exports of Euro 8.848 billion and imports of Euro 3.017 billion. In 2008, Britain exported goods worth Euro 9.823 billion and imports from GCC were valued at Euro 3.336 billion.
The third place was occupied by France with exports valued at Euro 8.689 billion and imports at Euro 3.338 billion. In 2008, French exports to the Gulf totalled Euro 7.826 billion and imports at Euro 6.248 billion.
Italy came fourth with exports in 2009 worth Euro 8.622 billion and imports at Euro 2.844 billion. In 2008, Italy exported goods worth Euro 11.449 billion to GCC countries and imported goods valued at Euro 4.794 billion.
Spain, Portugal and Cyprus were the three EU countries with a negative trade balance with GCC. In 2009, Spain’s imports were valued at Euro 3.827 billion and exports at Euro 2.178 billion, and Portugal’s imports totalled Euro 446 million and exports totalled Euro 154 million.
Cyprus imported goods worth Euro 56.38 million and its exports to GCC totalled Euro 36.31 million in 2009.
– NNN-KUNA
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