December 22, 2017

 

EU agri-food exports remain at 'very high' level in October

 

 

The value of EU agri-food exports in October 2017 kept its very high level, at EUR12.3 billion (US$14.58 billion), according to the latest data released by the European Commission (EC).

 

However, wheat exports and pork exports dropped by EUR75 million ($88.91 million) and EUR33 million ($39.12 million), respectively.

 

For the 12-month period November 2016 to October 2017, EU agri-food exports reached a

value of EUR137.4 billion ($162.9 billion), corresponding to a sustained increase of 5.6 % in value terms compared with the same period one year before.

 

Milk powder (+EUR872 million; +25%) and infant food (+EUR847 million; +13 %) exports performed very well over the last 12 months, according to the EC figures.

 

Similarly, EU agri-food imports increased to a monthly value of EUR 9.6 billion ($11.38 billion), and  the monthly trade balance stayed at about the same level as the previous year, or a surplus of EUR2.7 billion ($3.2 billion).

 

Biggest export value drop for wheat

 

On the other hand, wheat and other cereals exports had the biggest drop in value

terms on an annual basis (respectively -EUR1.8 billion; -31 % and -EUR0.4 billion; -18 %).

 

Agri-food imports from third countries in the 12-month period November 2016 to October 2017

accounted for almost EUR118 billion ($139.94 billion), or an increase of 5.4 % compared with the same period one year before. However, driven by the stronger export performance over the 12-month period, the export surplus now stands at EUR19.4 billion (+EUR1.1 billion; +6 %).

Looking at product categories, oilseeds other than soybean imports over the 12-month period were 25% or EUR836 million higher than the previous period.

 

However, import values decreased for soybeans (-EUR214 million; -4 %), and meat preparations (-EUR182 million; -9%).

 

The net exports for wheat over the last 12 months were reduced.