Photo © Valcho – Fotolia
(BRUSSELS) – The European Union had an agri-food trade surplus of EUR 18.8 billion in 2016, according to a Commission report, with the annual value of agri-food exports reaching a new record level at EUR 130.7 billion.
The annual value was up EUR 1.7 billion on 2015, with the biggest increases in annual exports to the USA (up EUR 1.26 billion) and China (up EUR 1.06 billion).
The EU’s agri-food trade surplus was up from EUR 15.3 billion in 2015. The value of EU agri-food imports went down 1.5% to EUR 112 billion.
The report shows that 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 EUR 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 EUR 39.3 billion in 2016.
Throughout last year, EU producers have successfully increased exports of non-commodity primary products (pigmeat, vegetables). While 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 EUR 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.
Full report: Monitoring EU Agri-Food Trade: Development until December 2016
