EU Agri-food Exports are Holding Strong
The value of EU agri-food exports reached €137.9 billion in 2017, corresponding to a sustained increase by 5.1% in value terms compared to 2016. Published by the European Commission, the latest monthly trade report details the export values for different sectors and origin. Major gains in annual values have been achieved in agri-food exports to the USA (+6%), Russia (+16%) and several Asian markets: Japan (+11%), China (+5%), Hong Kong (+10%) and South Korea (+13%).
The sectors of wine, pet food and spirits and liqueurs performed very well in terms of exports over the last 12 months. On the other hand, wheat and other cereals and pig meat exports decreased. EU agri-food imports also increased but at a slower pace than exports meaning that the trade balance for agri-food products remains positive with an export surplus at €20.5 billion.
