EU agri-food exports on the rise

By Niamh Michail

- Last updated on GMT

© iStock
© iStock

Related tags International trade

The total value of EU agri-food exports increased by 9% in May this year compared to 2016, according to trade figures from the European Commission.

The figures, published yesterday, show a sustained increase of 2.6% for exports over the June 2016 to May 2017 period, reaching a value of €131.8 billion.

An increase in both exports and, to a greater extent, imports, meant the bloc’s net trade balance in May 2017 continued to be positive at a total of €675 million.

The highest growth value in May was seen in wine, infant food, fatty acids, and milk powders, while monthly exports to the US, China, Japan, Hong Kong, Russia and Korea increased on a per country basis.

European producers are also gearing up to increase trade with Japan following an agreement in principle reached by the EU and Japan earlier this month (6 July) on the main elements of an EU-Japan Economic Partnership Agreement.

“The EU-Japan trade deal will be the most successful agreement ever achieved in agriculture, providing EU exporters better opportunities,”​ said a statement by the Commission. “It represents the biggest concession Japan has ever granted on agriculture to any trade partner, meaning that the EU is likely to become the most significant partner for Japan for agri-trade.”

Currently, Japan is the EU's fourth biggest export destination, generating €5.77 billion in agri-food trade for member state producers and manufacturers.

The main EU export products to Japan are pork meat (21% of all EU food exports to the country), wine (13%), cigars and cigarettes (6%), cheese (5%) and spirits (4%). Imports from Japan mainly consist of soups and sauces (17%) and spirits (12%) as well as fatty acids and waxes (9%).

The full report can be seen here.

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