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Tuesday, 10 May 2011

Global and EU agricultural exports rebound

The latest Monitoring Agri-trade Policy (MAP) looks at developments in trade over the past year, focusing in particular on the EU and how it has performed compared to other world players. World agricultural trade reached an all-time high, at least 12% (expressed in Euros) above the previous record set in 2008. The impact of the economic crisis led to a contraction of 6% in 2009 but global agricultural exports rebounded by over 19% last year. The EU as well as the other top exporters all benefited from buoyant markets. Following the slump in 2009, the EU, the US and Brazil bounced back with over 20% growth in exports, to reach record levels in 2010. For the past 3 years, the EU and the US have been roughly neck and neck as the world's leading agri-food exporters. In 2010 US exports reached an all-time high of €92 billion, just ahead of the EU's record €91 billion exports. […] The EU remains the biggest importer of agricultural products from developing countries, importing €59 billion worth of goods in 2008-10. This is far ahead of the US, Japan, Canada, Australia and New Zealand put together, whose combined imports from developing countries reached just €49 billion over this period. More than 70% of total EU imports come from developing countries compared to 50% for the US and just 40% on average for the 5 countries mentioned.

Source: European Commission

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