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.