EU agricultural foreign trade weaker than 2020 at the beginning of the year

Published 2021년 6월 25일

Tridge summary

The European Union's (EU-27) agricultural exports and imports experienced a slowdown in the first two months of 2021 compared to the same period in 2020, with a 6.0% decrease in exports and a 12.5% decrease in imports. The decline in exports was largely due to a decrease in sales of wheat, baby food, spirits, and cheese, while imports of tropical fruits, oil meal, and soybeans increased. The trade development with the United Kingdom was a significant factor in the decline, with revenue decreases in both exports and imports. However, exports to China continued to grow, and there was a notable increase in exports to Nigeria. On the other hand, imports from the United Kingdom fell by 54.3%, and imports from the United States, Brazil, Ukraine, and China also decreased.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The EU-27's foreign trade in agricultural products and food developed more slowly at the beginning of this year than at the beginning of 2020. As reported by the European Commission, the exports concerned totaled € 28.46 billion in January and February 2021; that was 6.0% less than in the same period of the previous year. However, imports fell even more sharply, by 12.5% to € 18.17 billion. While EU agricultural exports rose again year-on-year in February, imports in terms of value in both January and February were below the corresponding level of 2020. On the export side, sales of wheat and baby food fell particularly sharply, namely by 17.2% to € 1.08 billion and 15% to € 1.22 billion. The exports of spirits and cheese fell by almost 11% to € 1.02 billion and € 884 million, respectively. In contrast, the export of edible oils rose sharply, by almost a quarter to € 588 million. In absolute terms, however, export earnings for pork increased the most with € 124 million or 7.7% to € ...

Source: Top Agrar Online