June 3, 2013

EU reports new record in agricultural trade surplus in 2012

EU hit a new record in agricultural trade surplus in 2012 - €12.6 billion (US$16.39 billion).

China continues to be the EU's top growing export market. After the 2011 increase, EU agricultural sales to China in 2012 grew further by 25%, which is additional €1.2 billion (US$1.56 billion). Pork posted an impressive growth of 71%, or €149 million (US$193.81 million), as well as other meat and offal with a 61% gain, or €177 million (US$230.23 million).
 

Japan is an important partner for EU products, ranking fifth among the main export destinations for EU agricultural products (behind China). Although pork is the principal product sent to Japan, its sales are still below the pre-2005 levels. Sales of pork in 2012 were 14% lower than in 2004, the record year of pork exports to Japan.

The EU remains the biggest agricultural supplier to Russia, accounting for nearly 40% of its imports in 2012. As in other major markets, exports to Russia are dominated by final products, which account for over 80% of EU sales to Russia. Similarly to 2011, the top exports in 2012 were fresh fruits, cheese, and pork. The sales of pork, an important product in export to Russia, seem to have stopped growing. In volume terms, they virtually came back to the 2010 level (-13%; down to 310,000 tonnes).