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  • U.S. exports increased by 6.4 percent annually to $119.6 billion in 2015
  • U.S. imports decreased by less than 0.1 percent annually to $72.9 billion in 2015

U.S. exports of financial services increased by $26.2 billion during 2011–2015, while U.S. imports experienced a slight decline of $0.09 billion. The United States reported a trade surplus in financial services of $46.7 billion in 2016, up from $20.4 billion in 2011, due in large part to an increasing trade surplus with the European Union (EU). The EU has consistently been the leading U.S. export market for financial services during 2011–15 (capturing 30 percent of U.S. exports in 2015), while the EU and Bermuda have been the largest suppliers of financial services to the United States (each supplying around 32 percent of U.S. imports in 2015). Bermuda’s trade with the United States is largely driven by the island’s position as a supplier of reinsurance services. For more information on U.S. trade in services, see chapter 1 of Recent Trends in U.S. Services Trade: 2017 Annual Report..