The EU has once again emerged as the world's leading exporter of agri-food products, with exports amounting to €138 billion in 2018, a new report by the European Commission suggests.
Agricultural goods represented 7% of the total value of goods exported during this period, ranking fourth after machinery, other manufactured goods, and chemicals.
'Common Agricultural Policy'
Phil Hogan, commissioner for Agriculture and Rural Development, said, "The increasingly market-oriented Common Agricultural Policy has made a decisive contribution to the EU's success in agricultural trade.
"The EU's reputation for having safe, sustainably produced, nutritious and quality products is a winning formula in the global marketplace."
Agriculture and food-related industries and services employ almost 44 million people in the EU, the report said.
Food production and processing chains account for 7.5% of jobs in the sector.
The report listed the United States, China, Switzerland, Japan, and Russia as top markets, accounting for 40% of EU's total agri-food exports.
Wines and vermouth dominated the basket of exported products with spirits and liqueurs ranking second, the study showed.
It was followed by infant food and various food preparations, chocolate, pasta, and pastry.
Importer Of Agri-Food Products
In 2018, the EU also emerged as the second biggest importer of agri-food products with €116 billion worth of imports.
Imports from the US grew at the fastest pace of 10% during this period, making it one of the top suppliers of the union.
The EU's main imports include tropical fruit, coffee, fresh or dried fruits, oilcake, soybeans, and products used as ingredients such as palm oil.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.