May 2, 2011
Brussels (Best Growth Stock) -World trade in agricultural products in 2010 increased 12% compared to 2008 and reached record highs, according to a report released today, also says the European Union (EU) stood as the largest importer of agricultural products in the world.
According to the report, published by the European Commission (EC), world trade and surpassed the previous record set in 2008, after a 2009 marked by the crisis.
In 2010 the EU imported agricultural goods with a value of 82,000 million euros and exports worth 91,000 million euros, bringing the trade surplus rebounded in this area who had lost because of the crisis.
Increased trade in agriculture was due, the report said, increased product demand from major emerging economies compared to previous years.
He also had a crucial role the weaker euro in the foreign exchange market, and that lowers the cost of European goods in other countries.
In the case of the United States, the country remained the largest exporter of agricultural goods with 92,000 million euros, while it ranked as the second largest importer with 65,000 million.
Other major economies such as China or Brazil, they were located far from Europe and the U.S.
For products, wine and wheat are the two most exported products the EU, worth respectively of 4.593 million and 3,445 million euros.
Precisely these two products, along with frozen pork and whiskey are the main contributors to the increase in European exports.
The United States remained the top destination for agricultural goods that came from the EU, with an increase of 14% compared to 2009.
Just under 15% of European agricultural products exported went to the U.S., while 9% was destined to Russia 2200 million and an increase of 33% -.
However, the biggest increase was in exports to China and Hong Kong, with 50% and more than 1,000 million euros in both cases, although they were overcome, in total volume by Japan and Switzerland, which was held in the third and fourth place ranking.
For imports, Brazil is the leading supplier in the EU, with 14% of total imports, followed by U.S. (9%), Argentina, China, Switzerland and Turkey.
Soy and coffee were the two most popular products in Europe in international food markets, worth 6.402 million euros and 5,220 million euros, respectively.
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