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#Agriculture: Improvement in EU agri-food trade balance

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42184_1According to the latest monthly report on agricultural trade, the value of EU agri-food exports for the 12-month period from July 2015 to June 2016 amounted to just over €129 billion, a 2.1% increase compared to 2014-2015, with notable improvement in sales to the USA (+ €2.2bn), China (+ €1.8bn) and Saudi Arabia (+ €0.6bn).

The sectors which have shown the greatest gains over the 12–month period are pigmeat (+ €986 million), wine (+ €511m) and live animals (+ €502), whereas there was a notable decrease from the value of 2014-2015 exports for raw hides and skins (- €1.1bn), wheat (- €1.0bn) and milk powders (- €695m). Annual agri-food imports rose by 3.5% to €113bn in 2015-2016, despite a 9.6% drop in the value of imports from Brazil.

Tropical fruit, nuts and spices was the sector that showed by far the greatest rise in imports into the EU (+ €1.3bn), continuing the steady increase seen in recent years, but there were also significant improvement in 2015-2016 for cocoa beans (+ €682m) and oilseeds other than soya beans (+ €624m). Figures for the month of June give an export value of €10.9bn – the highest June value on record – with the monthly net trade surplus rising to €1.39bn, relative to €870m in June 2015.

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