The total value of EU agri-food exports increased by 9% in May 2017, compared to last year. Monthly exports particularly increased for the US, China, Japan, Hong Kong, Russia and Korea. Between June 2016 and May 2017, EU agri-food exports reached a value of € 131.8 billion, sustaining an increase of 2.6%.
Additionally, despite a reduction in pig meats exports in the March-May 2017 period, the export performance increased significantly over the last twelve months by 17%. By sector, the highest export growth for May 2017 came in wine, infant food, fatty acids, and milk powders.
As for imports, monthly values for EU agri-food also increased in May 2017 by 13% resulting in a total net trade balance of + €675 million.
In light of the EU-Japan Economic Partnership Agreement, the report goes into the agri-trade relationship between the two partners. The agreement will be the most successful ever achieved for agriculture, providing EU exporters with great opportunities. Already ranking as 4th biggest exporter to Japan, the EU is likely to become the most significant agri-trade partner for Japan with products such as pork meat, wine, cheese and spirits.
Monitoring EU agri-food trade: Development until May 2017