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"Impressive increase of EU agri-food exports"The value of EU agri-food exports increased by 1 billion between November 2016 and November 2017 to 12.7 billion, according to the latest monthly trade report from the European Commission. With monthly agri-food imports of around 10 billion, the monthly trade balance in agri-food products remains around 2.7 billion.
Wine saw the highest year-on-year export growth in November, increasing by 125 million; sugar exports grew by 79 million compared to November 2016 while exports of spirits and liqueurs rose by 71 million.
In contrast, EU wheat and other cereal exports experienced the biggest drop over the year, falling by 29% (or 1.7 billion) and 15% (or 0.3 billion) respectively. Pork exports also saw a dramatic annual decline, of 9% or 47 million.
In terms of markets, the US, Russia and Asia markets remain the most dynamic for EU agri-food export growth; sales to the US were up 7% (or 1.5 billion), while Russian exports grew 17% (up 0.9 billion). As for Asian markets, exports to China increased by 6% (an additional 0.7 billion), to Japan by 12% (0.7 billion) and Korea by 17 % (0.4 billion).
Publication date: 1/26/2018
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