• Exports: €27.8 billion (-0.1% compared to Q3 2017)
• Imports: €18.4 billion (-0.4% compared to Q3 2017)
• Trade balance: €9.5 billion (+0.6% compared to Q3 2017)
Trade surplus increased by a moderate €55 million in Q3 2018 to reach €9.5 billion.
In Q3 2018, export growth contracted very slightly (-0.1%) compared to Q3 2017 and to a lesser extent than imports (-0.4%). The trade balance is positive for most sectors except for fish products, oils and fats, processed fruits and vegetables, grain mill products and sugar.
The most significant quarterly gains in exports (in terms of value):
• By export destination: Singapore (+€95 million), Ukraine (+€77 million) and Egypt (+€64 million)
• By sector: Processed fruits and vegetables (+€85 million), bakery and farinaceous products (+€62 million) and wine (+€59 million)
The most significant quarterly decrease in exports:
• By market: China (-€266 million), Algeria (-€64 million) and Norway (-€62 million)
• By sector: meat products (-€179 million), dairy products (-€152 million) and animal feeds (-€104 million)
The most significant quarterly gains in imports:
• By origin: United States (+€133million), Brazil (+€93 million) and Peru (+€85 million)
• By sector: meat products (+€84 million), animal feeds and beer (+€41 million, respectively) and grain mill products (+€39 million)
The most significant quarterly decrease in imports:
• By origin: Argentina (-€137 million), India (-€94 million) and Malaysia (-€81 million)
• By sector: sugar (-€232 million), oils and fats (-€120 million) and processed fruits and vegetables (-€77 million)
For the period of October 2017 to September 2018 (compared to the previous 12-month period):
• Exports: €109.6 billion (+1%)
• Imports €73.7 billion (-1%)
• Trade balance: €35.9 billion (+€2.1 billion; +6%)
The most significant gains in exports by sector over the past year were registered for sugar (+€576 million), wine (+€537 million), spirits (+€358 million) – and decreased for meat products (-€592 million) and dairy products (-€352 million). Most noticeable is the shift in the sugar trade balance, which has moved from a net importing to a net exporting position.
Download full report here.
Source: FoodDrink Europe