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Trade Balance Remains Positive For EU agri-food Products

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Trade Balance Remains Positive For EU agri-food Products

Trade Balance Remains Positive For EU agri-food Products
March 25
09:00 2016

EU agri-food exports rose slightly in January 2016 relative to January 2015 to €9.3 billion, according to the latest monthly statistical report. The figures show that the EU was a net exporter in January – which is not always the case – taking the net agri-food trade surplus for February 2015 to January 2016 to around €16 billion.

Highest increases in monthly export values were recorded for USA, China and some North African and Middle East countries, including Iran. The highest increases in monthly export values were achieved for pork and vegetables. On the other hand, agri-food imports to the EU decreased slightly in January 2016 to €9.2 billion from €9.3 billion in January 2015.

This month’s report takes a closer look at the olive oil sector and the significant rise in the value of EU exports in recent years. The EU’s trade balance for olive oil is largely positive with exports in 2015 worth almost €2.3 billion – an increase of 6.6% on 2014 despite a 42% drop in the 2014/15 harvest. It is the sixth successive year that the EU olive oil sector has seen a marked increase in the value of exports. The main client for EU exports is the USA, followed by Japan, Brazil and China. Global demand for olive oil is continuously growing. EU olive oil prices were also exceptionally high in 2015.

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