Spain: Agrifood exports continue to grow
In 2016, Agrifood exports reached a value of €44, 3 billion, 5.9% more than the previous year, accounting for 17.4% of total Spanish exports.
With Agrifood exports of €33, 4 billion, the trade balance shows a positive balance of €10, 9 billion, reinforcing the coverage rate which reaches a new maximum of 133%.
Another notable fact is the economic value of the Agrifood sector, which, in the last fifteen years, has increased by 126%.
The study indicates that the average variation rates have been higher in Agrifood exports than the total average (6.7% compared to 3.4% in the last five years and 6.4% compared to 4.1% in the last ten).
The main buyers of the Spanish Agrifood products are France, where it was exported for a value of €7.2 billion (+1), Germany (€5.3 billion; +6%) and Italy (€4.6 billion, +1%).
China is among the countries showing the greatest growth, amounting to €2 billion (+45%). Ahead of China, the US continue as the main destination outside the EU, with purchases of €1.75 billion (+13%).
The countries with the biggest drop in exports were Algeria (-8%), Mexico (-6%) and the UAE (-4%).
By products, pork, olive oil, citrus and wine stand out. Pork is the most exported product, with a value of €3.2 billion (+19%). It is followed by olive oil, with €3.2 billion (+19%), citrus fruit, whose sales fell by 5%, to €3.14 billion, and wine, with stable sales amounting €2.67 billion.
In the last decade, pork, olive oil, other fruits (strawberries, other berries, kiwis…) and bakery products are those that reflect a stronger growth.
Source: Fundación Lafer / Agroberichten Buitenland