| EU exports are dominated by final products, which | | | | bigger impact on the value of EU imports than |
| accounted for over two thirds of export value, with | | | | exports given that they account for a greater share |
| wine the highest value export in 2007-09. Imports | | | | of our imports than exports. Most of the top |
| are more diverse. The top imports for 2007-09 were | | | | suppliers lost sales to the EU in 2009 with the US and |
| soybean meal, coffee, soybeans, bananas and cocoa | | | | Argentina decreasing the most, by 24% and 29% |
| beans, with most imports coming from a few key | | | | respectively. |
| suppliers. | | | | As regards imports from developing countries, the EU |
| The global economic and financial crisis that emerged | | | | remains by far the biggest importer of agricultural |
| in 2008 had a dramatic impact on world trade in | | | | products, importing $83 billion worth of goods in |
| goods and services. Although world agricultural trade | | | | 2007-09 (70% of our imports), more than the US, |
| was relatively less affected, it nevertheless fell by | | | | Japan, Canada, Australia and New Zealand put |
| 13% in value and 3% in volume in 2009. As regards | | | | together. |
| EU agricultural trade, the year 2009 was also | | | | Since imports contracted faster than exports, -13% |
| exceptional as it reversed the growth pattern of the | | | | compared to -8% in export value, the EU agritrade |
| previous years, with a decline both in imports and | | | | deficit decreased from a record €7 billion in 2008 |
| exports. | | | | to €2.5 billion in 2009. |
| The impact of recession on EU exports was | | | | Looking at other countries, US agricultural exports fell |
| exceptional in terms of its size and was also | | | | by 14% in 2009. However, since the US farm sector |
| widespread across destinations and products, with | | | | went into the crisis with record-high exports, the |
| final products taking the hardest hit in absolute terms. | | | | drop still leaves US exports above the level of 2007. |
| The contraction was driven mainly poorer final | | | | As imports were less affected, falling by 10% the |
| products sales reflecting weaker demand in the | | | | record trade surplus of $36 billion in 2008 was |
| countries most affected by the economic crisis. The | | | | reduced by $9 billion in 2009. Brazil's exports fared |
| EU lost sales to most of its top export markets | | | | better, falling by 6% in 2009, with the decline mainly |
| (mainly developed countries). | | | | in final products, notably beef and poultry. |
| Sales to the US declined for the second year in a | | | | The weakness of the markets of some major |
| row by over 8%. But the biggest fall in exports was | | | | importers is witnessed by the sharp contraction in |
| to Russia where sales fell by over 21%. The EU | | | | imports. Russia's imports fell by 17% overall, partly |
| managed to increase its exports to China by over | | | | due to weakness of demand and partly as result of |
| 20% (mainly final products). EU agricultural imports fell | | | | trade restrictions, with import duties imposed on |
| more sharply than exports, down by 13% in value | | | | oilmeals, vegetable oils and sugar as well as measures |
| and 9% in volume. The drop was also widespread | | | | in the pork and poultry sectors which are ostensibly |
| across origins and products, with commodities and | | | | linked to sanitary concerns. The impact of the crisis |
| intermediate products suffering the sharpest | | | | on China is witnessed by the 11% drop in the value |
| contraction. Maize, soybeans, wheat, vegetable oils | | | | of imports. Despite this China was one of the few |
| and oil me al together account for roughly half the | | | | growth markets for the EU in 2009, with an |
| decline in value of imports. The decline in prices of | | | | impressive 20% increase in EU exports. |
| commodities and intermediate products in 2009 had a | | | | |