Agricultural trade in the EU increases to 347 billion euros in 2021

In 2021, trade in agricultural goods in the EU reached €347 billion. Trade balance remains positive, with a surplus of €49.9 billion recorded.

Agricultural trade in the European Union (EU) reached 347 billion euros in 2021, which is 20.7 billion more than in 2020, according to data released Friday by Eurostat. The trade balance remains positive, with a surplus of 49.9 billion euros.

Last year, the trade value of agricultural products in the EU amounted to approximately 347 billion euros, of which 196.9 billion were exports and 150 billion imports. This is, therefore, an increase of 20.7 billion compared to 326.3 billion in the same period last year.

As has been the case since 2002, the trade balance continues to be positive, with exports of agricultural goods in the community block exceeding imports. A surplus of 46.9 billion euros was recorded in 2021, compared to 44.2 billion in the same period last year.

In terms of exports, the United Kingdom was the EU's main trading partner, with a 21% market share (equivalent to 42.1 billion euros), followed by the United States (12%, for a global amount of 24.4 billion), China (8%, for a global amount of 16.5 billion), Switzerland (5%, for a global amount of 10.1 billion), and Japan (4%, for a global amount of 7.3 billion).

Eurostat also highlights Russia, which accounted for only 4% of EU agricultural goods exports, mainly plant and food products, totaling 7.1 billion euros.

On the other hand, when it comes to imports, Brazil was the EU's main trading partner for agricultural goods, with a 9% market share, totaling €13.4 billion. It is followed by the United Kingdom (9%), the United States (6%), Norway (5%) and Ukraine (5%, for 6.9 billion euros), and most of the products imported by the EU bloc were vegetables and oils.

Between 2002 and 2021, EU trade in agricultural products has more than doubled, which is equivalent to an average annual growth of almost 4.8%. In this period, exports (5.4%) grew faster than imports (4.2%).

Source: AICEP