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February 21, 2018

 

EU agri-food exports up 5% in 2017, but pork and wheat down

 

 

While the overall value of EU agri-food exports in 2017 increased 5.1% to €137.9 billion (US$169.862 billion) compared with 2016, pig meat and wheat and other cereals decreased, according to the latest monthly trade report from the European Commission.

 

Pork exports were down 2.8% or €0.1 billion ($123.19 million), wheat exports by 27.5% or €1.5 billion ($1.847 billion) and other cereals by 13.5% or €0.3 billion ($369.54 million).

 

The US, Russia and several Asian markets remained the most dynamic for EU agri-food export growth. Sales to the US increased by 6% (or €1.22 billion), while Russian exports rose by 16% (up €0.9 billion).

 

As for Asian markets, exports to Japan grew by 11% (an additional €600 million), exports to China increased by 5% (or €6 million), to Hong Kong by 10% (€4 million) and to South Korea by 13% (€3 million).

 

EU agri-food imports also increased but at a slower pace than exports. Thus, the trade balance for agri-food products remained positive with an export surplus of €20.5 billion ($25.27 billion).

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