Primary goods account for 78% of Mercosur exports to the EU in 2021

Primary goods correspond to the majority of exports from Mercosur countries to the European Union in 2021, reported EU’s statistics office Eurostat on Wednesday, October 26. These products accounted for 78% of all shipments to the bloc last year. Meanwhile, EU sales to Mercosur were mainly manufactured goods (89% total).

According to Eurostat, the most exported Mercosur products to the EU in 2021 were “animal feed” with 6 billion euros (22% more than in 2020), “oil seeds” with sales of 4.5 billion euros (+35%), and “crude oil” with €3.7 billion (+52%). This last item rose more due to the rise in energy prices.

The most imported products by Mercosur from the EU in 2021 were: “medicinal products,” with 3.1 billion euros (+30% compared to 2020), “motor vehicle parts,” with 2.9 billion euros (+54%), and “medicines,” with € 2.0 billion (+4%). The increase in “drugs” was in part related to purchases of coronavirus vaccines.

The Mercosur country that led in trade with the EU (imports and exports) was Brazil (€67 billion), ahead of Argentina (€17 billion).

Mercosur is considered a strategic partner of the European Union. In 1999, an Interregional Cooperation Agreement entered into force. Mercosur’s importance as a trading partner was later reaffirmed by the trade agreement signed in 2019, aimed at removing existing barriers to trade in goods, including the abolition of tariffs.

Source: InfoMoney

To read the full original article, please go to: https://www.infomoney.com.br/economia/bens-primarios-representaram-78-das-exportacoes-do-mercosul-para-a-ue-em-2021/m

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