23 Feb 2017
EU AGRI-FOOD EXPORTS REACH RECORD HIGHEconomics
Agri-food exports from the European Union reach record high in 2016, according to annual 2016 figures.
The annual value of EU agri-food exports in 2016 reached a new record level with total exports reaching €130.7 billion, up €1.7 billion on 2015.
The biggest increases in annual exports were to the USA (up €1.26 billion) and China (up €1.06 billion). At the same time, the value of EU agri-food imports went down 1.5% to €112 billion. This leads to an increase of the EU agri-food trade surplus to € 18.8 billion, up from €15.3 billion in 2015.
The agri-food sector accounted for 7.5% of total EU exports in goods in 2016; and 6.6% of all imported goods are agri-food products. With a surplus of €18.8 billion the agri-food sector is also a major contributor to the overall surplus of the European Union in merchandise trade, which stood at €39.3 billion in 2016.