German agricultural sector also writes export record

Not only the Netherlands, but also Germany set an agricultural export record for 2017. The value of exported agri and food goods has increased by 3,9% to €78,3 billion in the past year. This is apparent from an estimate by the German trade association GEFA.

The value of agricultural exports, excluding mechanization, increased by 4% to €60,4 billion between January and November. The increase in value is striking, given that Germany exported less during that period. The volume of exports shrank by 5,9% to 51,9 million tons. Wheat exports in particular experienced a sharp drop in volume (-16,9%).

In Europe
The majority of the goods remain within the European Union (EU). The value of European exports rose by 10% in the first 2017 months of 4,4 to €64,6 billion. Exports to third countries recorded a plus of 2,9% to €13,9 billion. It is striking that exports to Russia, after a sharp decline since 2014, are on the rise again. This increased by 12,8% to €781 million.

Less than the Netherlands
After years of growth, the value of goods exported to Asia has fallen slightly (-1,8%). The decline is mainly driven by a contraction of 11,7% in China. Exports to North America, on the other hand, are on the rise and increased by €90 million, a 6% increase.

Based on the results in the first 10 months of 2017, GEFA expects Germany to set an export record of €78,3 billion. This is more than €13 billion less than the export record set by the Netherlands has put down.

Wouter Job

Wouter Baan is editor-in-chief of Boerenbusiness. He also focuses on dairy, pig and meat markets. He also follows (business) developments within agribusiness and interviews CEOs and policymakers.

w.baan@boerenbusiness. Nl

© DCA Market Intelligence. This market information is subject to copyright. It is not permitted to reproduce, distribute, disseminate or make the content available to third parties for compensation, in any form, without the express written permission of DCA Market Intelligence.