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2020 a year of stability for EU agri-food trade

Screen Shot 2021-04-07 at 11.08.55 AM

Source: Pig333.com, 6 April 2021, photo credit: Pixabay/Egypt Today

Over the course of 2020, the value of EU agri-food exports increased to €184.3 billion (a growth of 1.4% compared to 2019), while the value of imports rose to €122.2 billion (a growth of 0.5%). The resulting balance of trade for 2020 stood at a surplus of €62 billion, an increase of 3% compared to 2019.

China, Switzerland and the Middle East and North Africa (MENA) region were the major growth destinations for EU agri-food exports in 2020. In the case of China, the value of exports rose by €3.22 billion compared to 2019, driven by pig meat, wheat, and infant food. The value of EU exports fell in relation to the USA (by €392 million, with spirits and wine the main products affected), Turkey (down by €360 million) and Singapore (a decrease of €346 million).

Despite the impact of Brexit, EU exports to the UK increased by €467 million compared to 2019, with wheat, pasta and pastry amongst the leading products. However, the value of EU imports from the UK dropped by €1.2 billion, with spirits and liqueurs hit in particular. Canada grew significantly as a source of EU agri-food imports in 2020, with rapeseed and durum wheat propelling a rise of €1.05 billion in import values compared to 2019.

In terms of product categories, exports of pig meat grew by €2.12 billion compared to 2019, while the value of wheat exports increased by €1.70 billion. Other product categories to perform strongly in 2020 were pet food (up by €557 million), rapeseed and sunflower oil (up €467 million) and pasta and pastry (up €391 million).

As regards imports, values decreased for the EU’s intake of coarse grains (down by €1.22 million), spirits and liqueurs (a fall of €493 million), and oilcakes (a drop of €441 million). On the other hand, increases were recorded in the import values of palm and palm kernel oil (up by €719 million), fatty acids and waxes (up €689 million), rapeseed and sunflower seeds (up €602 million), and fresh and dried fruit (up by €491 million).

5 April 2021/ EC/ European Union.
https://ec.europa.eu/commission

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