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During the first four months of 2020, EU27 agri-food trade (exports plus imports) reached a value of EUR 104.3 billion; up 3.8% from the same period in 2019. The current growth remained to be driven by a boost in agri-food exports which increased by 4.8% compared to the corresponding period in 2019, reaching EUR 61.9 billion. EU27 imports attained EUR 42.4 billion, 2.3% higher than the same period in 2019. However, the monthly values of EU27 exports and imports decreased in April 2020 by 9% and 5%, respectively, below the level of previous month, mainly triggered by the COVID-19 pandemic.
Pig meat rises in export value
The highest increases in export values (year on year for January-April) continued to be recorded in trade with China (+42%). This upward trend is largely driven by consequences of African Swine Fever in China as well as by the impact of COVID-19 pandemic. As a result, the increase in EU27 export value of pig meat to China showed exceptional growth (+280% in relation to the same period last year) and is reflected in the EU27 overall rise in exports of pig meat. Offal meat also grew 54% in export values to China.
Looking at product categories, the increase in export values (January-April 2020 compared to January-April 2019, EUR million) was driven in particular by continued strong export growth of wheat (+1249, +63%), pig meat (+1225, +57%), and coarse grains (+439, +55%).
Import value increased most from Canada
Agri-food import values year over year for the period (in million EUR) increased most from Canada (+426, +92%). This growth continued to be driven by very high imports of rapeseeds (+1 132%) and soya beans (+455%).
As a result, the agri-food export surplus during the period January-April 2020 stood at EUR 19.5 billion, an increase by 10% compared to the corresponding period in 2019, despite the Covid-19 crisis. This net trade balance remained boosted by continued strong exports of pig meat, wheat and coarse grains.
July 23, 2020/ European Commission/ European Union.
https://ec.europa.eu/
