Sure! Here’s the translation to American English:
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In 2024, the European Union (EU) recorded significant trade exchanges with the founding countries of Mercosur, reaching imports valued at €56.0 billion and exports of €55.2 billion. Compared to the previous year, imports grew by 4.2%, while exports experienced a slight decline of 1.3%.
Over the last decade, there has been a notable increase in imports, rising by €18.8 billion, which represents a growth of 50.3%. In contrast, exports to Mercosur have increased by €11.1 billion, equivalent to a 25.1% rise.
Within the Mercosur block, Brazil has established itself as the major trading partner with the EU, totaling €89.5 billion, followed by Argentina with €16.4 billion. Most imports from these countries are primary goods, which account for 81.3% of total EU imports from Mercosur. In contrast, manufactured goods represent 86.6% of EU exports to this region.
The most imported products include petroleum and related products, valued at €12.1 billion, followed by animal feed (€7.1 billion) and coffee, tea, and cocoa (€5.2 billion). Among these, petroleum has shown remarkable growth over the last decade, increasing by €10.6 billion.
On the other hand, EU exports to Mercosur are led by medicinal and pharmaceutical products, totaling €6.8 billion, along with general machinery, road vehicles, and specialized machinery. Exports of medicinal products have grown by 85.9%, starting from €3.7 billion in 2014.
This landscape highlights the importance of trade relations between the EU and Mercosur, emphasizing both the growth in raw material imports and the opportunity for the EU to expand its market for manufactured products in the region.
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Let me know if you need anything else!
Source: MiMub in Spanish
