0
The total value of EU agri-food trade reached a record €328.1 billion in 2021, a 7% increase year on year. This resulted in a trade surplus of €67.9 billion, representing an increase of 8% compared to 2020.
While it remains the fourth-highest value product, exports of pigmeat fell by over €900 million (-9%), the largest decline of any product category in 2021. China is largely the biggest importer of EU pigmeat (43% of total EU exports). After a peak in export values in 2020, the values declined by 31% in 2021 (€ 3 929 m). Exports to the UK also declined (€ 814 m in 2021, -17% compared to 2020). Exports to Japan (the 2nd biggest export market for EU pigmeat) remained stable at € 1 170 m (+1% year-to-year) and exports to other partners increased but did not compensate for the decline in the main export markets. Other main export destinations were South Korea, Philippines, the U.S. and Australia.
EU exports of cereals and oilseeds and related products performed well. Vegetable oils (other than palm and olive oil) increased by +30% (+945 m) and export values of other cereals increased as well by +34% (+875 m). This is likely to be related to a strong increase in wheat prices, especially in the second half of 2021. The competitiveness of wheat compared to other cereals declined and negatively affected EU wheat exports (-5% in 2021 year-to-year).
2021 saw Brazil become the primary supplier of agri-food imports to the EU, with values growing by 19% to reach €13.5 billion. This was driven by imports of soya beans (up 50%), coffee (up 25%) and oilcakes (up 13%).
The largest increases in import values were seen for soya beans (up €1.5 billion or 30%) and oilcakes (up €1.5 billion or 24%), with these two product categories representing 11% of all agri-food imports. This was driven by a sharp increase in commodity prices and an increase in energy costs. Notably, import quantities for soya beans and oilcakes decreased by 3% and 1%, illustrating a clear price effect in the rise of import values.
March 23, 2022/ European Commissoin/ European Union.
https://ec.europa.eu
