May 14, 2024
The total trade value of raw materials between the European Union and the rest of the world in 2023 was €165 billion (imports plus exports). There was a €29 billion trade deficit as a result of lower exports (€68 billion) than imports (€97 billion).
The EU’s overall raw material trade increased by 37% between 2013 and 2023, or 3.2% year on average. Exports increased by 3.8% during this time, outpacing import growth of 2.8%.
Raw materials can be broken down into three main categories: wood, paper, and textiles; rubber, metals, and minerals; and animal and vegetable raw materials.
Rubber, metals, and minerals accounted for the greatest group in terms of export value in 2023 (€26 billion, or 38% of all exports). These were followed by animals and vegetable raw materials (€22 billion, or 32%), and wood, paper, and textiles (€21 billion, or 30%).
About half of the imports (€48 billion, 49%) were made up of rubber, metals, and minerals, with the remaining imports being made up of animal and vegetable raw materials (€35 billion, 37%), followed by wood, paper, and textiles (€14 billion, 14%).
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer(s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view(s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.