€11.5B in exports and €9.3B in imports: these were the numbers that characterized the European Union’s (EU) agri-food trade in July 2018. In comparison with the same month of last year, the surplus increased €2.2B. These conclusions are included in the European Commission’s latest monthly trade report.
Wine exports went up, vegetables went down
The wine and spirits sector performed well, with exports rising by €82M and €48M, respectively. Wheat exports rose by €49M and other cereals by €47M. Vegetable exports, on the other hand, fell by €45M.
Export destinations also went through some shifts. The highest increases in monthly export values were recorded for Libya (+ €54M) and Singapore (+ €45M). The biggest drops were recorded for China (- €72M) and Iran (- €40M).
EU more dependent on USA imports
As for imports, the largest increases were recorded for soya beans (+ €57M) and cocoa beans (+ €56M). On the other side, vegetable oils (- €104M) and palm oil (- €98M) were the imports whose value decreased the most.
“The value of July 2018 EU agri-food imports compared to July 2017 increased significantly for imports coming from US” – €183M – “sustaining the strong increase of recent months.” The increase in the value of agri-food imports from Ghana and Chile were also some of the most significative, at €46M and €37M, respectively.
The import values with the biggest decrease were recorded for Ukraine (- €128M) and Paraguay (- €64M).
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