From an economic viewpoint, the Transatlantic partners enjoy a high degree of integration. Transatlantic firms are increasingly using new and innovative ways of doing business, including by means of electronic commerce. In 1996 two way trade in goods and services amounted to more than 355 bn ECUs. The trade relationship is not only large in size, but it is also substantially balanced.
Transatlantic trade is concentrated in sophisticated high-technology products.
The area of trade in services appears particularly dynamic. In 1996 the combined cross-border trade in services reached 128 bn ECUs. This remarkable increase still leaves considerable scope for trade growth given the fact that the services sector has become the largest and fastest growing part of both economies. The importance of the EU-US investment relationship is demonstrated by the level of FDI stocks, with each of the two sides being the other's largest investor. By 1996 cross investment stocks between the EU and the US on a historical-cost basis reached 720 bn USD, by far the largest investment relationship in the world.