cultivar_22_Final_EN

The Agroforestry Complex in the Portuguese Economy – 2020 93 In terms of the international agroforestry trade, exports of goods and services grew at a faster rate (3.6% per year) than imports (2% per year) in 2010– 2020, with a positive effect on the agroforestry trade balance and, consequently, the economy. It should be noted that from 2014, with the economic recovery and consequent pick-up in income, there was a reversal of the trend in export and import var- iables for goods and services, namely higher growth 3 Fish and meat exports contributed, respectively, by -2.64 p.p. and -1.49 p.p. to the variation in agroforestry imports in 2020 (Source: GPP, from international trade statistics, INE). 4 Paper and paperboard and fish exports contributed, respectively, by -2.29 p.p. and -1.65 p.p. to the variation in agroforestry exports in 2020 (Source: GPP, from international trade statistics, INE). in exports than imports across the economy as a whole, particularly in the agroforestry sector, with impacts on the trade balances. However, in 2020, at the height of the Covid-19 pandemic, agrofor- estry imports fell 5.9% (due above all to a downturn in imports of fish and meat) 3 and exports fell 2.4% (due to a downturn in exports of paper and paper- board and fish). 4 Even so, these figures are lower than for the economy as a whole, which saw imports of goods and services decline heavily (-15.2%) and 2000 2011 2012 2013 2014 2015 2016 2017 2018 2019P 2020P Average annual growth rate (%) 2000-2020P 2010-2020P 2019P-2020P Agroforestry Complex Exports 4 690 8 268 8 638 9 241 9 623 9 963 10 129 10 407 10 965 11 103 10 831 4,3 3,6 -2,4 Imports 7 158 10 783 10 328 10 720 10 637 11 087 11 497 12 167 12 802 12 994 12 230 2,7 2,0 -5,9 Trade balance -2 468 -2 515 -1 690 -1 479 -1 015 -1 124 -1 368 -1 761 -1 837 -1 891 -1 398 Agrifood Complex Exports 1 968 4 757 5 056 5 488 5 840 5 996 6 160 6 331 6 624 6 758 6 920 6,5 4,9 2,4 Imports 5 438 8 830 8 568 8 871 8 667 9 058 9 387 9 925 10 389 10 555 10 053 3,1 2,2 -4,8 Trade balance -3 469 -4 073 -3 512 -3 383 -2 826 -3 062 -3 226 -3 594 -3 765 -3 797 -3 134 Agriculture Exports 207 680 753 744 873 973 1 028 1 146 1 253 1 338 1 411 10,1 7,7 5,5 Imports 1 793 2 752 2 686 2 740 2 568 2 731 2 828 2 967 3 149 3 096 3 138 2,8 2,3 1,4 Trade balance -1 586 -2 072 -1 933 -1 996 -1 694 -1 759 -1 800 -1 820 -1 897 -1 758 -1 726 FBT Exports 1 761 4 077 4 303 4 744 4 967 5 023 5 132 5 184 5 371 5 420 5 508 5,9 4,3 1,6 Imports 3 645 6 078 5 881 6 131 6 099 6 327 6 558 6 958 7 239 7 459 6 916 3,3 2,1 -7,3 Trade balance -1 884 -2 001 -1 579 -1 387 -1 132 -1 304 -1 426 -1 774 -1 868 -2 039 -1 408 Forestry Exports 67 121 106 122 97 48 52 56 62 72 64 -0,3 -4,7 -10,7 Imports 271 216 208 264 267 253 267 272 284 281 277 0,1 3,9 -1,7 Trade balance -204 -94 -102 -141 -170 -206 -215 -215 -222 -210 -213 Forestry Industry Exports 2 654 3 390 3 476 3 631 3 686 3 920 3 916 4 020 4 279 4 273 3 848 1,9 1,9 -10,0 Imports 1 449 1 737 1 553 1 585 1 704 1 776 1 843 1 971 2 129 2 157 1 899 1,4 0,9 -11,9 Trade balance 1 205 1 653 1 923 2 045 1 982 2 144 2 073 2 049 2 150 2 116 1 948 Forestry Complex Exports 2 722 3 511 3 582 3 753 3 782 3 968 3 969 4 076 4 342 4 345 3 912 1,8 1,7 -10,0 Imports 1 720 1 953 1 761 1 849 1 970 2 029 2 110 2 243 2 413 2 439 2 176 1,2 1,2 -10,8 Trade balance 1 001 1 558 1 822 1 904 1 812 1 939 1 858 1 833 1 928 1 906 1 736 Economy bens e serviços Exports 36 219 60 674 63 579 67 526 69 595 72 991 74 989 83 717 89 144 93 163 74 302 3,7 3,2 -20,2 Imports 50 401 68 052 64 411 65 653 69 336 71 662 72 849 81 739 88 194 92 349 78 313 2,2 1,5 -15,2 Trade balance -14 182 -7 378 -833 1 873 259 1 329 2 140 1 978 949 814 -4 010 Share of the Agroforestry Complex in the international trade of goods and services (%) Exports 12,9 13,6 13,6 13,7 13,8 13,7 13,5 12,4 12,3 11,9 14,6 Imports 14,2 15,8 16,0 16,3 15,3 15,5 15,8 14,9 14,5 14,1 15,6 Table 4 – Exports, imports and trade balance in the agroforestry complex and the economy (million EUR) P = Provisional data Source : GPP, from the NA and Economic Accounts for Agriculture (EAA) (Base 2016), INE Data last updated: 28 February 2020