Miscalculations noticed in EU’s proposal to extend steel import quotas

Tuesday, 15 June 2021 18:04:17 (GMT+3)   |   Istanbul
       

Miscalculations in the official document sent by the European Commission to the World Trade Organization, proposing to extend steel safeguards by three years, have attracted the attention of market players and raised questions. On a table showing import volumes and import shares, the 2018 and 2020 data are understood to have been misplaced, resulting in a 20 percent share for imports in 2020. However, when figures for the years in question are calculated, the EU’s steel import share for 2020 turned out to be 14.8 percent and, accordingly, steel imports into the EU decreased over the last three years instead of rising. 

The EU Commission recently proposed to extend the steel safeguard measures by three years, increasing the quota volumes by three percent.

Import shares are recalculated according to figures in the official document and are shown in the table below.

Year 2013 2014 2015 2016 2017 2018 2019 2020
Import volume (mt) 18,329,000 21,868,000 26,552,000 29,141,000 30,094,000 34,180,000 29,672,000 25,019,000
Production volume (mt) 243,945,000 249,855,000 248,763,000 249,204,000 254,925,000 200,416,000 189,459,000 168,675,000
Share of imports (%) 7.5 8.80 10.7 11.7 11.8 17.1 15.7 14.8

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