EU overtook the U.S. to become the biggest exporter of agricultural products world

According to the report of the European Commission (EC) announced on 23/6, in 2013, the European Union (EU) has beaten the U.S. to become the biggest exporter of agricultural products in the world, with a turnover of up to 120 billion euro (163 billion dollars), thanks to a record level of consumption of China and other developing countries.

Compared with 2012, the value of EU exports of agricultural products increased by 5.8%, which alone contributed more cereal 2/3 of this increase.

Demand for commodities imported by the EU is the largest increase since the Chinese market (19.7%) and Saudi Arabia (20.4%).

The U.S. market accounts for a quarter of China’s imports, but the market share of the EU in 2013 has increased by 9.1%.

However, with 500 million consumers, the EU is also the largest consumer market in the world’s agricultural commodities and food products, with imports in 2013 at 101.5 billion euros, almost no changes compared with 2012.

Agricultural products export is ranked fourth block, after machinery, chemicals and pharmaceuticals; accounted for 9% of total exports.

Since 2010, the EU became a net exporter sector of agricultural products and always a surplus since then.

Meanwhile, due to the effects of drought, the U.S. has to take the top spot in the hands of the EU, with exports of soybean and cotton in particular affected.