EU FOOD INDUSTRY IN TRADE SURPLUS.
September 1st, 2006
by Alan Osborn
A string of trade deficits by European food and drink producers was reversed in 2005 thanks to a rise of 5.2% in exports - the best performance since 2000, says the EU Confederation of Food and Drink Industries (CIAA). In its annual report CIAA says the US was the biggest customer for European food taking 22% of the Euro 47.6 billion of exports but Russia overtook Japan to become number two. Sales to China rose by 24% to Euro 800 million. The CIAA says that exports have risen further by 14% in the first four months of 2006.
ENDS
A string of trade deficits by European food and drink producers was reversed in 2005 thanks to a rise of 5.2% in exports - the best performance since 2000, says the EU Confederation of Food and Drink Industries (CIAA). In its annual report CIAA says the US was the biggest customer for European food taking 22% of the Euro 47.6 billion of exports but Russia overtook Japan to become number two. Sales to China rose by 24% to Euro 800 million. The CIAA says that exports have risen further by 14% in the first four months of 2006.
ENDS
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