FDBusiness.com

The annual value of EU agri-food exports in 2016 reached a new record level with total exports reaching €130.7 billion, up €1.7 billion on 2015. The biggest increases in annual exports were to the USA (up €1.26 billion) and China (up €1.06 billion).

At the same time, the value of EU agri-food imports went down 1.5% to €112 billion. This leads to an increase of the EU agri-food trade surplus to €18.8 billion, up from €15.3 billion in 2015.

The agri-food sector accounted for 7.5% of total EU exports in goods in 2016; and 6.6% of all imported goods are agri-food products. With a surplus of €18.8 billion the agri-food sector is also a major contributor to the overall surplus of the European Union in merchandise trade, which stood at €39.3 billion in 2016.

Throughout last year, EU producers have successfully increased exports of non-commodity primary products (pigmeat, vegetables). Also export values for processed agricultural products (wine, olive oil) and food preparation increased by 4 to 5% in average, while export values for commodities (wheat and other cereals, milk powder) and non-edible products went down.

This month’s report focuses on agri-food trade with Canada. The EU is a net-exporter of agri-food products to Canada, with a surplus of about €1.25 billion in 2016. Main EU export products are value added processed products, food preparations and beverages, with wine, spirits and liqueurs, confectionery, beer as well as pastry and biscuits being the most important product categories.