The value of total trade (import plus exports) of raw materials between the European Union (EU) and the rest of the world in 2021 reached €178 billion. As exports (€71.3 billion) were lower than imports (€106.8 billion), this resulted in a trade deficit of €35.5 billion, according to Eurostat, the EU’s statistics agency. Between 2002 and 2021, EU trade in raw materials almost tripled, equivalent to average annual growth of 5.6 per cent.
In this period, exports (6.5 per cent) grew faster than imports (5 per cent).
The most commonly exported raw materials in 2021 included paper and textiles (33 per cent). In imports, metals, minerals and rubber (56 per cent) were also the most traded raw materials, followed by animal and vegetable raw materials (30 per cent), and by wood, paper and textiles (14 per cent).
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