Spanish boom for agri-food and olive oil

Spanish agri-food transformed subsector improved its exports over October 2013 by 2.8% (in comparison with October 2010). This month, the most exported products are wine (276 million euros), pigmeat (246 million euros), olive oil (231 million euros) and tangerines (184 million euros).

The Ministry of Agriculture, Food and Environment has published the monthly report on foreign trade, October 2014, which shows that exports of agri-food and fisheries sector amounted to 3.533 million euros, an increase of 4.3 per percent over the same month last year. Meanwhile, imports accounted for 2.893 million euros, leaving a balance of 640 million was generated.

With regard to annual data or moving year, i.e. in the last twelve months, the share of agri-food and fisheries sector throughout the Spanish foreign trade is 17% in exports, becoming the second largest sector after goods equipment, and ahead of the automotive industry and chemical industry sector.

As it is stated in the study, agricultural, fishing, food and forestry exports have continued the upward trend and products were exported worth 40.382 million euros, 2.5% higher than the same period last year, while the value import was 30.772 million, 0.6% higher than that period. Therefore, the annual balance stood at 9,610 million euros, an improvement of 8.8%.

In an analysis by sector in October 2014, the transformed food subsector has improved its exports with an increase of 2.8%, mainly due to the export of wine, pork and olive oil. Meanwhile, imports increased by 4.2%, the most significant of vegetable oils.

The whole industry food and beverage, comprising the sum of the agricultural transformed food and fishing, has had in October 2014 exports worth 2,041 million euros and imports of 1,386 million euros, giving a surplus of 655 million euros, an improvement of 1.9% compared to October 2013.

Source: Ministerio de Agricultura, Alimentación y Medio Ambiente

Olio Officina