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.
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).