The monthly value of EU agri-food trade in July 2018 held firm at €11.5 billion in exports and €9.3 billion in imports. The value of exports was 2% higher than in July 2017. Monthly import value, on the other hand, was 0.6% lower compared to July 2017. Therefore, the agri-food trade surplus increased to €2.2 billion – a 15% rise when compared to the previous year. These are the main findings from the latest monthly trade report (632.3 KB - PDF) published by the European Commission.
The highest increases in monthly export values (July 2018 compared to July 2017) were recorded for Libya (up €54 million), Singapore (an increase of €45 million) and Japan (a gain of €41 million) while exports to China fell by the largest amount (€72 million). Europe also exported less to Iran in July 2018, with exports dropping by €40 million.
The wine and spirits sectors have performed well with exports rising respectively by €82 million and €48 million. Wheat and other cereals have also seen a steady rise (up €49 million and €47 million). By contrast, rawhide exports have dropped the furthest in value terms (€98 million). Vegetables and milk powder have also experienced a significant decrease, down €45 million and €43 million respectively.
Imports of agri-food from the USA have increased by €183 million compared to May 2017, sustaining the strong increase of recent months. The values of imports from Ghana and Chile also rose, respectively up €46 million and €37 million. The largest decrease in import values were from Ukraine (down €128 million), Indonesia (dropping by €87 million) and Paraguay (down €64 million).
By sector, significant increases were recorded in import values of soya beans (up €57 million) and cocoa beans (a gain of €56 million), while imports of vegetable oils and palm oil decreased.
Source: European Commission