News23 October 2017Brussels, BelgiumAgriculture and Rural Development
High performance of EU agri-food exports continues in latest trade report
Published today by the European Commission, the latest monthly trade report shows that European agri-food exports remain strong for August 2017 further increasing the trade balance to €2.4 billion.
The European agri-food exports rose to €11.5 billion in August 2017, an 8% increase compared to July 2017. Highest increases of monthly exports were again towards Russia and the USA, with respectively an added €153 million and €108 million compared to 2016.
By sector, exports of wine and vermouth, and milk powders have increased the most with respectively an extra €130 million and an added €123 million compared to last year.
EU agri-food imports have also increased by 4% compared to the same time last year, resulting in a surplus of €2.4 billion in the agri-food trade balance.
Furthermore Russia is back as the 4th biggest export destination for EU agri-food trade. The Russian Federation's ban on a range of EU agri-food products in 2014 provoked a drop in trade. However thanks to an improvement in the economic conditions in Russia and stronger demand in wine, spirits and liqueurs, chocolate and food preparations, exports increased by 14%, an added €773 million this year.
In addition due to a lower level of EU agri-food imports from Russia, the agri-food trade surplus of the EU with Russia has reached €4.9 billion in 2017, a rise of €905 million compared with 2016.
Monitoring EU agri-food trade: Development until August 2017