Agri-food exports from the EU reached a record level of €235.4 billion in 2024, according to a new report from the European Commission.

This marks an increase of 3% of €6.6 billion, compared to the peak in 2022 and 2023.

The UK remained the top destination for EU agri-food exports in 2024, representing 23% or €53.9 billion.

The US was the second main destination with 13% of EU exports in 2024 and had the largest increase compared to 2023, increasing by €3.3 billion or 12%.

China accounted for 6% of EU exports, but this was down by 9% or €1.3 billion on the previous year.

Agri-food exports to Russia decreased by €762 million or 11% on 2023 levels.

The EU continued to export a "diversified basket" of products, topped by exports of cereal preparations, dairy products and wine.

The value of olives and olive oil, and cocoa products increased the most, due to strong price increases, while exports of cereals declined due to reduced prices and volumes.

The report shows that EU agri-food imports also reached a record level of €171.8 billion in 2024, up 8% or €12.4 billion compared to 2023.

This was primarily driven by a steep increase in the price of imports of cocoa, coffee, and fruits and nuts.

The EU continued to import agri-food products from a diverse set of trade partners, with Brazil (10% of imports), the UK (9%), and Ukraine (8%) as the top sources.

Imports increased from Côte d’Ivoire, Ukraine, and Nigeria, while they decreased from Russia and Australia.

Overall, the stronger growth in import value led to a decline in the EU agri-food trade balance that reached €63.6 billion, which is down 8% on the record level in 2023.