Executive Summary 

1. This Note provides an overview of the major trends in trade in agricultural products between 2000 and 2021. World exports of agricultural products almost quintupled between 2000 and 2021, from USD 300 billion to USD 1,376 billion. World imports increased from USD 325 billion to USD 1,408 billion over the same period.

2. The share of agricultural products in total merchandise exports rose from 6.1% in 2000 to 7.8% in 2021, the share in imports from 6.2% to 7.8%. The lowest share was reached in 2006, but then rose steadily following the food price crisis of 2007-08. The peak was reached in the first year of the pandemic, 2020, with shares of 8.3% for imports and exports.

3. While North America accounted for more than one quarter of world exports in 2000, its share fell to 21% in 2021. Europe also lost in export share. The regions whose shares expanded include Asia, South and Central America, the Middle East and the Commonwealth of Independent States, including certain associate and former members (CIS). Africa's share remained rather stable.

4. The European Union was the main exporter in both 2000 and 2021, but its share went down from 20.2% in 2000 to 16.7% in 2021. The United States followed in 2nd place in 2021 (share of 13%), and Brazil in 3rd (7.5%). Regarding imports, China (14.5%) the United States (12.5%), and the European Union (11.3%) were the three most important importers of agricultural products in 2021. Back in 2000, China was still in 7th position with a share of only 3%.

5. The top net exporters of agricultural products in 2021 were led by Brazil, whose surplus reached USD 91.1 billion. The European Union was in 2nd place, followed by New Zealand. The top net importers in 2021 were China, Japan and the United Kingdom. Back in 2000, China had been a net exporter.

6. The most highly traded agricultural products in 2021 were "soya beans" (hereby referred to as "soybeans"), "maize (corn)" and "palm oil". Their combined share in total agricultural trade was at 13% in 2021. The share of palm oil almost tripled between 2000 and 2021, with the share of soybeans increasing distinctly as well.

7. In 2021, food prices were 2.4 times above their year 2000 level. On average, they increased by 4.2% per year. Cereals prices increased the most, to 2.6 times their 2021 level. Dairy prices rose by 3.8% per year, reaching a 119% rise between 2000 and 2021. In 2021, the price of various meats was 79% above their 2000 levels, and the price of sugar 116% higher.