October 4, 2016

EU pork exports recovering, post 29% rise in July

 
EU agri-food exports reached a value of more than €128 billion (US$143.85 billion), or an increase of 0.7% in value during the 12-month period from August 2015 to July 2016, compared with the same period a year before, the European Commission said.

The EC said monthly value of EU agri-food exports in July reached €10.5 billion ($11.8 billion), a moderate slowdown compared with the high performance in July 2015. The most important reductions in export values in July 2016 were noted for Hong Kong, Russia and Algeria.

On the other hand, exports to India, China, the Philippines and Vietnam, all in Asia, and Sudan, Ethiopia, Libya in northeast Africa increased compared with July last year. 

Pork achieved the highest increases in monthly export values, at €1.1 billion ($1.236 billion), or a 29% increase compared with the export values the year before.

Agri-food imports to the EU in July 2016 went down by €940 million ($1.053 billion), even more than exports, thus leading to a further increase in the monthly net trade surplus from €1.8 billion ($2.018 billion) in July 2015 to €2.1 billion ($2.35 billion) in July this year.