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Strong EU exports driving stable food and drink industry - by Antony Fletcher
The EU food and drink industry now has a trade surplus of €4.5 billion.
"Exports of food and drink products amounted to €47.6 billion in 2005," said Jean Martin, president of CIAA, which represents European food and drink industries in Brussels."With 22 per cent of all EU exports, the US is the number one customer for European food and drink industries. For the first time, Russia is the second country of destination, overtaking Japan."
The EU food and drink industry sector is the largest manufacturing sector in the 25-member bloc, with a turnover value of around €800bn in 2003 and employs four million people. The sector purchases and processes 70 per cent of the EU's agricultural production. Exports of food and drink products add up to €45bn a year.
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