Tridge summary
The article reports on the European Union's agri-food trade performance for the January-July 2021 period, revealing a 3.2% increase in total value compared to the previous year, amounting to €183.8 billion. This growth is supported by a 6% rise in exports, which reached €111.4 billion, and a minor 0.2% decline in imports, totaling €72.4 billion. The surplus in global agri-food trade was significant, standing at €39,000 million, marking an 18% increase from the same period in 2020.
The article highlights notable trends in specific markets, such as a 13% increase in exports to the United States and China, driven by products like wine, spirits, and coarse grains. However, there was a 2% decline in exports to the United Kingdom, alongside reduced exports to Saudi Arabia, Algeria, Hong Kong, and Kuwait.
The period also saw a 12% increase in imports from Brazil, alongside growth in imports from Australia, India, Serbia, and Argentina. Conversely, there was a 29% decrease in imports from the United Kingdom, along with significant drops in imports from the United States, Ukraine, Vietnam, and Moldova.
Further insights reveal strong growth in the export values of wine, spirits, rapeseed and sunflower oils, chocolate, and confectionery products, while there was a notable decline in wheat and baby food exports. Import values experienced significant increases in soybeans, oilseed cakes, fatty acids, and waxes, whereas tropical fruits, nuts, spices, unroasted coffee, and tea saw substantial decreases.
The article highlights notable trends in specific markets, such as a 13% increase in exports to the United States and China, driven by products like wine, spirits, and coarse grains. However, there was a 2% decline in exports to the United Kingdom, alongside reduced exports to Saudi Arabia, Algeria, Hong Kong, and Kuwait.
The period also saw a 12% increase in imports from Brazil, alongside growth in imports from Australia, India, Serbia, and Argentina. Conversely, there was a 29% decrease in imports from the United Kingdom, along with significant drops in imports from the United States, Ukraine, Vietnam, and Moldova.
Further insights reveal strong growth in the export values of wine, spirits, rapeseed and sunflower oils, chocolate, and confectionery products, while there was a notable decline in wheat and baby food exports. Import values experienced significant increases in soybeans, oilseed cakes, fatty acids, and waxes, whereas tropical fruits, nuts, spices, unroasted coffee, and tea saw substantial decreases.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
While the year started slowly, the total value of EU agri-food trade (exports plus imports) for January-July 2021 stood at € 183.8 billion, an increase of 3.2% over the corresponding period last year. . Exports rose nearly 6% to € 111.4 billion, and imports fell marginally 0.2% to € 72.4 billion. This reflects a global agri-food trade surplus of 39,000 million euros during the first seven months of the year, an increase of 18% compared to the same period in 2020. The largest increase in exports was registered in those destined for the United States, whose value grew by 1,600 million euros, 13%. This was mainly driven by wine, spirits and liqueurs, chocolate and pastries. There was also a substantial growth in exports to China (857 million euros more), due to the good results of spirits and liqueurs, coarse grains and wine. Furthermore, in the January-July period the value of exports increased significantly to Switzerland (up to 450 million euros), Norway (up to 352 million euros), ...
Source: Castilla
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