Portugal: EU agri-food trade maintains steady growth between January and October 2020

Published 2021년 1월 27일

Tridge summary

The European Commission's trade report for January to October 2020 reveals a slight increase in the EU27 agri-food trade surplus by 1.3% to 49.8 billion euros, despite challenges such as the Covid-19 pandemic and changes in trade with the UK and US. Strong growth in exports to China, Saudi Arabia, and Switzerland, along with increased imports from Canada and Brazil, offset the declines in trade with the UK and US. The report also highlights changes in specific commodities and categories, with increases in pork, wheat, and certain other categories, but decreases in spirits, liquors, wine, and some other categories due to the pandemic.

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Original content

Between January and October 2020, EU27 exports reached 151.8 billion euros, an increase of 0.5% over the same period in 2019, while imports totaled 102 billion, an increase of 0.1%. As a result, the agri-food trade surplus increased by 1.3% to 49.8 billion euros. These are among the main developments published by the European Commission in the January to October 2020 trade report. The strong performance of EU agri-food exports to China continued, with growth of 3.09 billion euros, led by meat pork, wheat and baby food. There was also an increase in the value of EU agri-food exports to Saudi Arabia, amounting to 629 million euros, driven by sales of barley and dairy products. A wide range of products drove an increase in the value of EU agri-food exports to Switzerland, another 531 million euros, while wheat and various dairy products performed strongly in Algeria and Morocco, where the values of agri-food exports increased by 408 million and 393 million, respectively. As for ...

Source: AgroNegocios