Foreign direct investment by the 27 European Union member states in non-EU states fell by 28 per cent from 496 billion euro in 2007 to 354 billion in 2008, according to statistics on the website of the European Commission.

FDI into the EU27 from the rest of the world decreased by 57 per cent in the same period, to 173 billion in 2008. In 2008, intra-EU27 FDI flows dropped by 42 per cent compared with 2007.

In 2008, EU states collectively invested 149 billion euro in the United States, compared with 171 billlion euro in 2007, while in the same year, the US invested 45 billion euro in the EU 27, down from 194 billion in 2007.

Luxembourg, with outflows of 83 billion euro, a 23 per cent share of the EU27 total, was the largest investor in extra-EU27 in 2008, followed by France (58 billion or 16 per cent) and the United Kingdom (52 billion euro or 15 per cent). Luxembourg, at 76 billion euro or 44 per cent of the EU27 total, was also the main recipient of FDI inflows from extra-EU27.

"The role of Luxembourg in EU FDI is mainly explained by the importance of its financial intermediation activity," according to a Eurostat report quoted on the EC website.
In 2008, the EU27 was a net investor in the rest of the world, with outflows higher than inflows by 182 bilion euro (1.5 per cent of GDP).

A separate report said that between 2000 and 2008, EU27 trade in goods with China more than tripled in value, with EU27 exports to China rising to 78 billion euro in 2008 compared with 26 billion euro in 2000, and imports rising to 248 billion euro from 75 billion euro.

As a result, the EU27 trade deficit with China increased significantly, reaching 169 billion euro in 2008, compared with 49 billion euro in 2000.

In 2008, China was the EU27’s second most important trading partner after the US, accounting for six per cent of EU27 exports and 16 per cent of EU27 imports.

All member states registered deficits in trade with China in 2008.

Nearly 60 per cent of EU27 exports to China in 2008 were machinery and vehicles and one fifth were other manufactured articles, while these two groups accounted for more than 90 per cent of imports. At the detailed level, the main EU27 exports to China included aircraft and motor cars, while the main imports included computers and parts, mobile phones and video games.

Between 2000 and 2008, EU27 trade in goods with Russia also more than tripled in value, with EU27 exports to Russia rising to 105 billion euro in 2008 from 23 billion euro in 2000, and imports rising to 173 billion euro from 64 billion euro. As a result, the EU27 trade deficit with Russia increased significantly, reaching 68 billion euro in 2008, compared with 41 billion euro in 2000.

In 2008, Russia was the EU27’s third most important trading partner, accounting for eight per cent of EU27 exports and 11 per cent of EU27 imports.

Half of EU27 exports to Russia in 2008 were machinery and vehicles and another quarter were other manufactured articles, while energy accounted for two thirds of imports. At the detailed level, the main EU27 exports to Russia included motor cars, medicine, mobile phones and aircraft, while the main imports included oil, gas and coal.