June 25, 2014

With sales of US$163 billion in food and agricultural products in 2013, the EU is currently world's top agri-food products exporter, replacing the US.

In addition, the bloc maintained its position as the world's biggest importer of farming and food products, with an acquisition of commodities worth about US$137 billion. Even then, imports in 2013 remained virtually unchanged on-year, thus widening the EU agricultural trade surplus to US$25.3 billion.

According to a European Commission report on the global farming market, demand for specific commodities in China and other emerging economies has encouraged the EU's export growth.

Exports of cereals such as wheat and barley to the Middle East and North African countries alone accounted for over two thirds of the total export gain.

China continued to be one of the fastest-growing exports markets for the EU, which saw its exports share to the world's most populous country jump to 9.1% in 2013, supported mainly by the sales of malt extract for beer brewing, and pork.

At the same time, EU sales to the US, its top trade partner, saw only a slight growth, although imports from the US increased significantly.

After becoming a net exporter of agri-products in 2010, the EU's trade surplus in the sector has increased steadily ever since. The rise in exports comes despite a strong Euro which has affected several economic sectors in Europe.

However, exports to Japan have notably taken a hit due to the high value of the Euro against the depreciating Yen.

Agriculture is becoming an important issue in the ongoing free trade talks between the EU and the US.

The loss of its top exporter status might become a point of discord for the US.