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EU agri-food trade balance hits record levels

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EU agri-food trade balance hits record levels

Pigs - Photo © Tadija Savic - Fotolia

(BRUSSELS) - The EU agri-food trade balance stood at a record EUR 1.5 bn in April 2016, compared to EUR 1 bn in April 2015, the European Commission announced Monday in its latest monthly statistical report.

In the same month, exports were worth almost EUR 11 bn - about EUR 0.2 bn less than in April 2015, but EUR 0.9 bn higher than in April 2013 and 2014.

Highest increases in monthly export values (April 2016 compared to April 2015) were recorded for the USA (EUR +119 m) and China (EUR +86 m).

The highest increases in monthly export values were achieved for pork (+68%), followed by meat offal, spirits and liqueurs, and olive oil.

Over the past 12 month period, EU agri-food exports reached a value of almost EUR 129 bn, representing an increase of 2.8% compared to the same period one year ago.

The increase of EU agri-food exports to China was particularly significant with +29% over the last 12 months.

Major gains were achieved in values of agri-food exports to the USA (EUR + 2.5 billion; +14%) and China (EUR +2.4 billion; +29%), followed by increases in exports to Saudi Arabia (EUR +0.8 billion).

Agri-food imports from third countries in the period May 2015 to April 2016 came into the EU at a value of EUR 112 billion, i.e. an increase by 4.7% compared to the same period one year ago. The export surplus for the 12-months period stands at about EUR 16 billion.

This month's report focuses on pig meat, one of the EU agri-food flagship products accounting for around 5% of the total agri-food value.

Since the Russian sanitary ban was implemented in 2014, pork formerly exported to Russia has been mainly reoriented towards certain Asian countries such as China and the Philippines, which were already growing destinations before 2014.

For April 2016, pork was the agri-food product that witnessed the highest increase in monthly export values.

Monitoring EU Agri-Food Trade: Development until April 2016 - Full report and figures

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