Exports to China from Europe Demonstrating a Gradual Growth
Published By : 03 Aug 2015 | Published By : QYRESEARCH
The demand for agri-food imports in 2014 has continued to witness a steady growth, though this was noticed at a much lower rate as compared to the rates noted in the past. Nonetheless, these figures show that the gradual rise in import value and a higher growth in exports led to a decrease of the total agri-food trade deficit that was worth €2 billion in the year 2014 when compared to the last year.
The United States stood out as the primary supplier of these foods to China and was noted at a share of 25% that was trailed by Brazil with 20%. On the other hand, the EU share in the Chinese agricultural imports had finally stabilized at around 9 per cent in the year 2014. This was due to the rise in sales of infant food that was the main imported product. This product noted a dramatic rise in the past year. Furthermore, one third out of the total Chinese agri-food imports consisted of soya beans that showed a rising trend 2014.
The export side includes processed fruit, fresh fruit, and fresh vegetables noted a large contribution. This made China as one of the key food exporters globally. In the year 2014, the largest gains were noticed by oilcakes, trailed by fresh vegetables. Presently, the main market for the Chinese exports is currently Japan, trailed by Hong Kong and then the U.S.
Furthermore, the trade balance accounted for almost €3 billion that was in favor of the European Union. The stable along with the high paced strengthening of the European Union on agri-food exports to China was not able to continue in 2014. This shows that the maximum pronounced export growth was observed towards China in terms of cereals, beer, infant food, fresh dairy products, etc. These projects recorded the highest absolute export revenue increases in the year 2014.