Brexit is making its mark on the trade in agricultural products between UK and EU

Published Jun 15, 2021

Tridge summary

A recent Commission report has found that the sharp decline in trade with the UK is behind the significant drop in EU exports and imports of agri-food products in January-February 2021, compared to the previous year. The total value of EU agricultural and food exports fell by 6%, while imports fell by 12.5%. Trade with the US, Russia, Japan, Saudi Arabia, and Egypt also declined. However, trade with China saw the largest increase, mainly due to an increase in EU exports of pork and cereals. Nigeria also saw significant growth due to the expansion of wheat exports. The report also highlights the largest increases and decreases in export and import values by product category.

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

Original content

According to a Commission report published on 7 June, the sharp decline in trade with the United Kingdom was the main reason for the significant decline in EU exports and imports of agri-food products in January-February 2021 compared to a year earlier. In January and February 2021, the total value of EU agricultural and food exports was € 28.5 billion (down 6% from the same period in 2020), while imports fell by 12.5% to € 18.2 billion. on the side of the National Chamber of Agriculture. The UK's exit from the European Union had a significant impact on the EU's agricultural and food trade with the UK, with exports falling by € 1.13 billion and imports by € 1.38 billion. Trade with the US also declined, with exports falling by € 287 million and imports falling by € 191 million. Further decreases in export values were recorded with Russia (-13%), Japan (-12%), as well as Saudi Arabia (-12%) and Egypt (-25%). During the period, the largest increase in exports was recorded by China ...

Source: Agroinform