The value of exports for 2017 was €137.9 billion, according to the latest report on E.U. agri-food imports and exports. Wheat export value dropped 27.5% to €1.5 billion and other cereals were down 13.5% to €256 million.
In terms of markets, the United States, Russia and several Asian markets remain the most dynamic for E.U. agri-food export growth, according to the report. Sales to the United States increased by 6%, while Russian exports rose by 16%. As for Asian markets, exports to Japan grew by 11%, exports to China increased by 5%, to Hong Kong by 10% and to South Korea by 13%.
E.U. agri-food imports also increased but at a slower pace than exports. This is reflected in the trade balance for agri-food products remaining positive with an export surplus of €20.5 billion.
In product categories, the highest increases in import values in 2017 were recorded for palm oil (up 19%), fatty acids (up 56%), cereals other than wheat and rice (up 32%), (oilseeds other than soybean (up 21%), and tropical fruit (up 5%).