EU agri-food trade balance reached its record level in 2023, according to the latest report published by the European Commission. After a good performance of the EU agri-food trade in 2022, the most recent report released by the European Commission indicates that the EU agri-food trade balance reached its record level in 2023. EU exports reached […]
EU trade in goods with China: Less deficit in 2023
In 2023, the EU trade in goods deficit with China stood at €291 billion, which was €106 billion lower when compared with 2022 (-27%). Between 2013 and 2023, the EU’s trade in goods deficit with China varied between €104 billion in 2013 and €397 billion in 2022, the highest value in the decade. In 2023, […]
EU and US take stock of trade and technology cooperation
The European Union and the United States held the fifth meeting of the EU-US Trade and Technology Council (TTC) in Washington, D.C. The meeting allowed ministers to take stock of the progress of the TTC’s work and to provide political steer on key priorities for the next TTC Ministerial meeting, which will take place in […]
EU agriculture and fisheries ministers discuss trade, forests and the future of agriculture
Belgian presidency work programme The Belgian presidency presented its work programme for the first half of the year in the field of agriculture and fisheries. During this period, the Belgian presidency will focus on ensuring food security and autonomy, as well as on further enhancing the sustainability of food production and consumption. In this context, […]
Rare earths trade increased in the European Union by 2022
In 2022, the EU witnessed a significant increase in the import of rare earth elements (REE+). A total of 18 thousand tonnes were imported, a 9% increase from 2021, and 7 thousand tonnes exported, a decrease of 8% compared with the previous year. The value of imports surged to €146 million, marking a 37% rise compared with 2021, while exports […]
Competitive EU agri-food sector achieves high level of diversification in trade
The EU’s high level of trade diversification, showcased in a European Commission report published today, supports a competitive and resilient EU agri-food sector. Trading key commodities, such as food, with a wide array of partners minimises supply chain risks and vulnerabilities. In the case of agrifood products, it strengthens resilience by not creating unnecessary dependencies […]
EU-US Critical Minerals Agreement
The European Commission has adopted its negotiating directives for a Critical Minerals Agreement (CMA) with the United States. The objective is to foster EU-US supply chains in critical raw materials needed in the production of electric vehicle batteries. In 2022 alone, the EU exported €8.3 billion worth of critical raw materials relevant to this industry. […]
EU renews temporary trade benefits for Ukraine
In a demonstration of its unwavering political and economic support for Ukraine, the Council suspended all customs duties, quotas and trade defence measures on Ukrainian exports to the EU for another year, until June 2024. The Council adopted today a Regulation which renews the suspension of all customs duties, quotas and trade defence measures on Ukrainian exports […]
EU trade with Russia declined strongly
EU trade with Russia has been strongly affected following Russia’s invasion of Ukraine, with the EU imposing import and export restrictions on several products. The effects of these measures have been particularly visible in the latest months. Considering seasonally adjusted values, both exports and imports dropped considerably below the levels prior to Russia’s invasion. Russia’s share in extra-EU imports fell from 6.4% […]