Agri-food trade in 2017: another record year for EU agri-food trade
With an agri-food trade value of €255 billion in 2017, the EU confirms for yet another year its position as largest global exporter and importer of agri-food products. EU exports of agri-food products reached €138 billion in 2017, representing an annual increase of 5.1%. With imports at a value of €117 billion, the EU has a net trade surplus of €21 billion in its agri-food trade, according to the 2017 annual agri-food trade report. The entire output of the EU's agricultural sector is estimated at €427 billion in 2017. The food processing chain accounts for 7.5% of employment and 3.7% of total value added in the EU. The share of exports in production value chain is continuously increasing and as such, exports are a driver for jobs and growth for the European agri-food sector.