Increased EU agricultural exports despite Russia-embargo

The EU-Commission views the agricultural exports as being on the right track. After a year of Russian import prohibition, the EU’s exports of July are nevertheless clearly above those of the same month last year, as shown by the latest statistics of the EU-Commission. Concretely, the agricultural exports in July grew by 8% compared to July last year. Between August 2014 and July 2015, the EU-28 exported barely 6% more foodstuffs in terms of value than in the same time frame in the previous year.

At the outset of the second half of 2015, the USA (+16%) and China (+33%) proved themselves as good buyers for nutritional products from the EU. In July, especially Switzerland (+5%), Algeria, South Africa, Saudi Arabia and Egypt swelled their import from the EU. The Russian import embargo only left its traces in a few sectors, concludes the EU-Commission. Especially cheese, milk powder, fruit and vegetables were said to have been affected.

For these, the EU’s worldwide export regressed by 14 to 24% compared to the previous year. But the EU’s beef export increased by 23% between August 2014 and July 2015, despite the Russia-embargo. The EU-Commission ensured that the numbers show how dynamic and market-oriented the sector is, and in this context emphasized the importance of the common agricultural budget.

Source: aiz.info