Wednesday, August 26 2020 16:46
Marianna Mkrtchyan

Coronavirus pandemic boosted food and agricultural trade in the EAEU

Coronavirus pandemic boosted food and agricultural trade in the EAEU

ArmInfo.Mutual trade of the member states of the Eurasian Economic Union (EAEU) in food products increased in the first half of 2020 by 2.5%, to $ 4.1 billion, compared to the same period last year.

According to the press service of the EEC, in turn, sales of non-food  agricultural products increased by 13.0% to $ 0.32 billion. A  significant contribution to the growth of mutual trade was made by  soybeans, which demonstrated an increase of 8.4-fold, sales of sugar  increased by 26.2%, cheese and curd- by 10.2%.

Sales of non-primary non-energy goods in general in physical terms  remained almost unchanged (demonstrated a symbolic decline of 0.4%).  Here, in addition to the already noted leaders in sales growth -  non-food agricultural products (an increase of 12.4%) and food  products (an increase of 9.2%), we can also highlight timber and  paper products (an increase of 4.5%), chemical industry (plus 3.8 %)  and glass, ceramics and stone products (plus 1.7%).

<In monetary terms, mutual trade in non-primary non-energy goods in  the Union countries in January-June decreased by 7.0%, to $ 18.2  billion.However, its share in the total structure of trade in such  goods showed an increase from 25.4% to 25.8% ... The share of sales  of non-primary non-energy goods in the EAEU also increased from 68.4%  in the first half of 2019 to 74.1% in the first half of this year>, -  said in the trading block of the Eurasian Economic Commission (EEC).

As for the non-resource non-energy exports of the EAEU to third  countries, according to the results of the first half of the year, it  decreased by 9.0%, to $ 52.2 billion. At the same time, the share of  such exports in the total supplies of the Union has grown  significantly - from 25.4%  last year to 29.4% this year. The  physical volumes of export decreased slightly - by 0.2%. The best  sales dynamics are also registered in food (an increase of 17.2% in  monetary terms, to $ 11.4 billion) and non-food agricultural products  (an increase of 9.1%, to $ 0.62 billion). Among these goods, the  largest increase in export sales of sugar (12- fold), meat and  poultry by-products (2.7-fold), sunflower (2-fold), sunflower oil  (42.3%) and wheat (9.3 %).