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EU's exports were up, imports down in June

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Wednesday, 07 September 2016

EU's exports were up, imports down in June

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 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. 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.

Source: freshplaza.com