The European Commission has today (Thursday, April 25) published the latest monthly trade report showing developments in imports and exports of EU agri-food products in January 2024.
According to its main findings, the EU’s agri-food trade exhibited positive growth.
The trade surplus reached €5 billion, which is 27% higher compared to January 2023. Agri-food exports reached €18.4 billion, representing a 2% increase compared to January 2023.
EU agri-food exports and imports
On the export side, the United Kingdom (UK) remained the first destination of EU exports, representing 23% of exports with an 8% increase (+€304 million) in value compared to January 2023. Exports to the United States (US) also grew by 9% (+€179 million).
Significant increases were seen in exports of olives and olive oil (+146%), mixed food preparations (+10%), and sugar and isoglucose (+152% in volumes).
Conversely, exports of vegetable oils (-43%) and dairy products (-7%) decreased. Despite these changes, dairy products remain the second most exported product category.
Exports to China decreased by 11% (-€141 million), primarily due to reduced prices of certain products like cereal preparations and pig meat.
On the import side, EU agri-food imports rose by 10% to €13.4 billion compared to December 2023 but remained 5% below January 2023 levels.
Brazil and Ukraine were the top import sources accounting for 10% of imports respectively. Imports from Cote d’Ivoire surged by 83% mainly due to increases in the import of cocoa products.
Import growth was observed for olives and olive oil (+168%), while declines were noted for cereals (-34%), oilseeds and protein crops (-14%), and vegetable oils (-25%).
According to the European Commission, these trade dynamics reflect ongoing market shifts and evolving trade relationships within the EU agri-food sector.