The value of EU agri-food exports in January 2019 increased for the 4th year in a row to reach a new record level of €11.2 billion. Agri-food imports also grew to a record of €10.8 billion, leading to the monthly trade value topping €22 billion, compared to €21 billion in January 2018. These are the main findings from the latest monthly trade report published by the European Commission.
World trade will continue to face strong headwinds in 2019 and 2020 after growing more slowly than expected in 2018 due to rising trade tensions and increased economic uncertainty. WTO economists expect merchandise trade volume growth to fall to 2.6% in 2019 — down from 3.0% in 2018. Trade growth could then rebound to 3.0% in 2020; however, this is dependent on an easing of trade tensions.
The EU shields 320,000 direct jobs across Europe from unfair foreign competition through its trade defence measures, according to a report out today. The Juncker Commission has strengthened Europe’s trade defence toolbox through two major reforms. Since 2014, it has also applied 95 measures to ensure that European companies and workers can compete on fair terms. Two-thirds of all the 135 measures in place concern imports from China.
The first estimate for euro area (EA19) exports of goods to the rest of the world in January 2019 was €183.4 billion, an increase of 2.5% compared with January 2018 (€179.0 bn). Imports from the rest of the world stood at €181.8 bn, a rise of 3.4% compared with January 2018 (€175.9 bn).
EU-U.S. Joint Statement: Liquefied Natural Gas (LNG) imports from the U.S. continue to rise, up by 181%. Since their Joint Statement of 25 July 2018 in Washington D.C., when President Juncker and President Trump agreed to strengthen EU-U.S. strategic cooperation including in the area of energy, EU imports of liquefied natural gas (LNG) from the U.S. have increased by 181%. The firstEU-U.S. Energy Council High-Level Forum will take place on 2 May 2019 in Brussels.