EU agri-food exports rise 5.1 pct in 2017

BRUSSELS - The European Union's agri-food exports rose 5.1 percent year-on-year to 137.9 billion euros ($170.58 billion) in 2017 with a widening surplus, the European Commission said in its latest monthly trade report on Monday.

Agri-food exports to the United States and Russia grew 6 percent and 16 percent respectively, as well as to several Asian markets. China, Japan and South Korea imported 5 percent, 11 percent and 13 percent more of EU agri-food.

EU's agri-food imports also increased but at a slower pace than exports to reach 117.4 billion euros.

The surplus is 20.5 billion euros, a growth of 9 percent over last year and the 8th consecutive year of agricultural trade surplus.

Notably, EU's agri-food imports from the US dropped 2.1 percent to 10.98 billion euros, while its exports to the US rose 5.9 percent to 21.95 billion euros. That makes EU's agri-food trade balance with the US at 10.99 billion euros, or more than half of its total surplus.