Agri-food trade, an 8% jump in the EU's assets

Published Jun 8, 2021

Tridge summary

In the first two months of 2021, the European Union witnessed a decline in agri-food exports, with a 6% decrease amounting to €28.5 billion, while imports fell by 12.5% to €18.2 billion. This resultant surplus of 10.3 billion euros marks an 8% increase compared to the same period in the previous year, highlighting the importance of the primary sector to the European economy. The trade imbalance was influenced by Brexit, with reduced trade values observed in the UK and the USA, alongside shifts in trade patterns towards China and other regions. Notable changes included a surge in soybean imports, a decline in tropical fruit imports, and shifts in product categories such as pork, oil, and baked goods.

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

Original content

The slowdown in globalization continues: the Commission's report on the first two months of 2021 highlights the decline in agri-food exports from the old continent (-6%), but imports fall much more (-12.5%), generating a record surplus of 10.3 billion euros. The primary sector is confirmed as one of the main engines of the European economy. The two plates of the trade balance In the first two months of 2021, the value of EU agri-food exports totaled € 28.5 billion (with a decrease of 6% compared to the same period of 2020), while the value of imports decreased by 12.5% reaching 18.2 billion euros. Active record The agri-food trade surplus thus stood at 10.3 billion euros, with an 8% jump compared to the corresponding period of 2020. These are the main results published yesterday by the European Commission in the monthly trade report for January-February 2021. The weight of Brexit Brexit had a significant impact on EU agri-food trade with the UK, with exports falling by € 1.13 ...

Source: Terraevita