EU agri-food trade surplus at record levels

In May 2018, monthly values of EU agri-food trade remained strong with €11.2 billion in exports and €10 billion in imports. For exports, this is 5.7% lower than in May last year, which was a record year. Monthly import value, on the other hand, was 8.4% lower compared to May 2017 resulting in a monthly agri-food trade surplus of €1.2 billion – a 23% increase over May 2017. These are the main findings from the latest monthly trade report published by the European Commission.

The highest increases in monthly export values in May 2018 compared to May 2017 were recorded for Morocco (up €36 million), Russia (increase of €25 million), South Africa (up €22 million) and Algeria (an added €20 million). Exports to China and USA fell most, respectively down €196 million and €180 million.

For sectors, high export growths were recorded for spirits and vegetable oils, respectively an increase of €48 million and €22 million compared to 2017. Falls in exports were noted for fatty acids and waxes (down €92 million), raw hides (a decrease of €88 million) and milk powder (€80 million lower).

As for EU agri-food imports, the value of May 2018 compared to May 2017 increased most for imports coming from Chile, Morocco, Tunisia and Egypt, respectively by €74 million, €67 million, €42 million and €39 million. As value of imports from Ukraine, Indonesia, Argentina and Australia decreased most, each by €135 million, €134 million, €101 million and €96 million.

Decreases in imports by sector were most significant in unroasted coffee (down €161 million), oilseeds and palm oil (decreased by €139 million), while only imports of tropical fruit increased notably by €183 million.