EU Has Growing Surplus in Agri-Food Trade
The monthly value of EU agri-food exports in June 2016 reached $12.3 billion, slightly exceeding the export values in June of previous years.
EU agri-food imports went down from $11.1 billion in June 2015 to $10.8 billion in June 2016, increasing the net trade surplus from $984 million in June 2015 to $1.6 billion in June 2016, according to figures released by Eurostat, the European Union’s statistical bureau.
The highest increases in EU monthly export values—June 2016 compared to June 2015—were recorded for China, the United States, and Libya. Agricultural and food exports to Saudi Arabia, Vietnam, Israel, and Turkey increased by $34 million or more. The most significant reductions were in export values were seen to Egypt, Algeria, and Nigeria.
The highest increases in monthly export values were achieved for pork—which was up 58 percent—followed by animal organs and infant food. Monthly export values in June 2016 compared to June 2015 went down for raw hides and skins, spirits and liqueurs, and milk powders.
The highest increase in monthly import values was from Ivory Coast and Ghana, while imports from Brazil and the U.S. lost most in value terms.
For the 12-month period ending in June 2016, EU agri-food exports reached a value of more than $146 billion, an increase of 2.1 percent in value compared to the same period one year ago. Major gains were achieved in values of agricultural and food exports to the U.S.—up $2.5 billion—and China—up $2.0 billion—followed by increases in exports to Saudi Arabia, up $680 million.
Agri-food exports to Switzerland, the United Arab Emirates, Israel, and Australia all increased by more than $200 million in the twelve-months period. Exports to Russia fell by $1.25 billion and exports to Hong Kong went down by $1.4 billion over the same period.
Commodities faring best during 12-month period were pork, wine, live animals, vegetables, and butter and eggs. Raw hides and skins, wheat, and milk powders lost most in export values over the last 12 months.
Agri-food imports from third countries in the period July 2015 to June 2016 came into the EU
at a value of $128 billion, an increase of 3.5 percent compared to the same period one year
ago. The export surplus for the 12-months period stands at almost $19 billion.
Agri-food imports from Brazil decreased by 10 percent in the 12-months period. Imports from
Indonesia, Tunisia, and Canada also went down.
On the other hand, imports from Ukraine showed the highest increase in value terms—up $941 million, 23 percent. EU import values for agricultural and food products went up for Argentina, Ivory Coast,
Turkey, Australia, Peru, the U.S., Colombia, Chile, South Africa, and Russia.
The highest increases in values over the last 12 months were for tropical fruit, nuts, and spices. Imports also increased particularly for cocoa beans, oilseeds, cereals, and vegetables.
Import values decreased for bulk coffee and tea, oilcakes, palm oil, palm kernel and coconut oil, fruit juices, raw tobacco, and casein and modified starches.
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