BELGIUM, Brussels. The value of exports rose by 5.6% year-on-year. Even though the value of imports fell, there was nevertheless a 29% increase in the positive trade balance compared to last year’s figures. These are some of the main findings of the monthly trade report for August 2019, published today by the European Commission.
The value of the EU’s agri-food exports in August 2019 reached €12.07 bn., marking a rise of 5.6% compared to August 2018. As the value of imports decreased by 0.2% to €9.14 bn., the agri-food trade surplus for August stood at €2.93 bn., a 29% increase in the positive trade balance compared to last year’s figures.
Comparing the monthly export values of August 2019 with August 2018, the highest increases were recorded for China (up €283 mill.), the USA (a rise of €192 mill.), and Japan (an increase of €69 mill.). However, significant falls were recorded in the EU’s exports to Hong Kong, Libya (both down by €66 mill.) and Algeria (down €48 mill.).
In terms of imports, there was a rise in the value of the EU’s agri-food intake from Ukraine (up by €198 mill.), Brazil (rising by €94 mill.), and Canada (an increase of €74 mill.). At the other end of the table, there was a drop in the value of imports from the USA (down by €153 mill.), South Africa (a decrease of €59 mill.), and Indonesia (a fall of €51 mill.).
There was an increase in the export values of a number of product categories, e.g. pork (rising by €132 mill.). By contrast, there was a marked decrease in exports for live animals (€74 mill.) and raw hides and skins (€31 mill.).