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| 10 sep 2020 |
15:43 |
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Slight increase in EU27 agri-food trade despite Corona and Brexit
The latest monthly agri-food trade report published today shows that between January and May 2020, the total value of EU27 agri-food exports rose by 2% compared to the same period in 2019, reaching €75.8 billion, while the value of imports increased to €52.7 billion (a rise of nearly 1%).
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However the monthly values of EU27 exports and imports in May 2020 decreased by 7.5% and 4.5% respectively below the level of the previous month. The EU enjoyed an agri-food trade surplus of €23.1 billion during this period, an increase of 5% compared to the corresponding months of 2019. The growth of EU exports was driven by exceptionally high sales of pig meat to China and of cereals to the Middle East and North Africa (MENA) region. The value of EU exports to China rose by €1.93 billion during this period. In addition to pig meat, the other EU agri-food products in high demand from China were wheat, offal meat, and infant food. Strong demand for EU barley and wheat led to increases in exports to the MENA region. The total value of EU agri-food exports to the UK fell by €899 million, while, imports from the UK dropped by €807 million. Declines were also noted in the value of the EU's imports from the USA as well as EU export values to the USA. The full report is available online and more information on agri-trade policy is available here.
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