EU agri-food exports to third countries jump in March to €11.3 billion

EU agri-food exports to third countries in March 2016 were worth €11.3 billion, which the European Commission has said is about €1 billion higher than in February 2016.

The latest monthly report on agri-food trade from the Commission shows that the highest increase in exports was to China – which were 11.8% higher in March 2016 than in March 2015.

Meanwhile, for the past 12 months, exports to China increased to €2.6 billion, a 33% rise compared to the same period one year ago, according to the Commission.

For monthly export values, the highest increases were achieved for pork (from €318m to €422m in March 2016, an increase of 32.5%), followed by oilseeds (other than soya beans), some food preparations and wine.

Over the last 12 months, export values went up most for wine, which witnessed an increase of €783m or 8% compared to the 12-month period one year earlier.

Last month’s report from the Commission on February agri-food exports found that exports were worth €10.2 billion, which is well above export values in January 2016.

The February 2016 figures for agri-food exports were slightly above exports in February 2015 with the US accounting for the highest increase in monthly export values (+15%).

China has the next highest increase in monthly export values, with a 13.5% increase.

Earlier this year, it was revealed that EU agri-food exports to non-EU countries last year reached a record value of €129 billion.

The Commission said that export values in 10 out of the 12 months exceeded the value in the same month the previous year.

The trade balance for all EU agri-food products in 2015 showed a surplus in exports of about €16 billion, which was slightly lower than the €18 billion surplus in 2014.