Noida (India), November 25: Europe is rapidly transforming into a dynamic hub of trade opportunities, presenting many possibilities for businesses globally. With its robust economy, diverse consumer base, and strategic location, Europe proposes a fertile ground for businesses striving to expand their global reach. Despite the global economic challenges and uncertainties, the latest trade statistics for Europe reflect an impressive surge in trade activities. Here we explore how data-driven platforms, such as Eximpedia.app, have been innovatively tackling these persistent challenges.
Navigating the Dual Challenges: Europe’s Energy and Food Crises
Looking at the present situation in Europe, chances are higher that Europe might face a shortage of food and energy in the short run. If this situation prevails for a long time, this crisis might threaten the economic and social stability of Europe.
Europe’s Preparedness for Its Sustenance
The primary cause of Europe’s energy issue is its dependence on Russian natural gas, which accounts for roughly 40% of its gas imports. The Ukraine conflict has hampered gas supply, causing rising prices and raising concerns about shortages that might occur in winter.
In the last 12 months, Europe has surpassed the ambitions in this plan, and we can say that we no longer depend on Russian fossil fuels,” a Commission spokesperson told journalists.
By August 2022, Russian gas had been reduced to 9% of EU imports, while pipeline gas from other suppliers had been increased to 50% compared to 40% a year before. Imports of liquefied natural gas (LNG) by sea had doubled to 41% from 19% a year earlier.
As the world deals with profound challenges in the energy sector, Eximpedia, a leading data analytics platform, reveals its proactive measures to address these crises through innovative Global trade data services. Eximpedia, known for its cutting-edge trade data services, stands ready to contribute its expertise to tackle these critical situations.
The global food crisis is a complicated issue that includes many driving aspects. Conflict, economic shocks, and weather extremes are all playing a role in driving up food prices and making it difficult for people to access food.
- The war in Ukraine has disrupted grain exports from the Black Sea region, a major global supplier of wheat and other crops.
- Extreme weather events, such as droughts and floods, have affected crop yields in various parts of the world.
- Rising input costs for fertilizer, fuel, and transportation have made it more expensive to produce food.
The EU is one of the prominent donors of humanitarian assistance to countries affected by the global food crisis. In 2022, the EU allocated €1.1 billion for food and nutrition assistance. The food crisis has also led to an increase in food imports to Europe from other countries. In the first six months of 2022, the EU imported 17% more wheat and 12% more maize than it did in the same period in 2021.
The increase in food imports has put a strain on the budgets of European countries. In 2022, Europe spent an additional €20 billion on food imports due to the war in Ukraine. In response, an exclusive tool like Eximpedia can help businesses understand the market insights of food and beverages.
It enables them to make informed sourcing decisions by providing an export-import database, including complete shipment details through bills of lading, active exporters and importers, current buyers and suppliers, transaction frequency, ongoing orders, shipment volumes, pricing, and consignment numbers.
“In today’s interconnected world, businesses need to be able to make informed decisions based on real-time data,” said Micheal K Fortson, CEO of Eximpedia.”
Founded in 2021, the company is dedicated to revolutionizing the export-import industry by providing credible, real-time, and user-friendly market insights. The company has a developing global customer base ranging from small and medium-sized businesses to major multinational corporations. Our subscription plans provide you with access to various trade data from over 100 countries and thereby give you the competitive advantage you need to prosper in the export-import market.
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