A new EU report shows there was a €1.2 billion slump in exports to China between January and November last year with dairy products taking a €186 million hit.

According to the latest monthly agri-food trade report from the European Commission published today (Monday, February 24) China accounted for the largest reduction in EU exports to any single country between January to November 2024.

Exports to Russian from the European Union also declined in the same timeframe by €760 million because of a fall off in exports across a range of products including wine and spirits.

In contrast trade in goods and produce to the UK hit €49.7 billion between January and November 2024 - a year-on-year increase of €1.9 billion according to the new agri-foods export report.

The United States, according to the latest monthly agri-food trade report from the European Commission, recorded the largest increase in exports over the same time frame, growing by €2.8 billion to €27.8 billion.

The report also detailed that EU agri-food exports in November 2024 alone reached €20.1 billion which was down 7% from October’s peak performance, but similar to November 2023 levels. 

Meanwhile total EU imports between January and November 2024 reached €156.6 billion which was 7% higher than corresponding figures for 2023.

Imports of coffee, tea, cocoa, and spices increased €8.4 billion over this period driven by high prices and volumes.

Imports from Côte d’Ivoire in particular had the largest increase in value chiefly because of the "continuing increase in cocoa prices".

EU imports from Ukraine had the second-largest increase in value compared to 2023 because of higher imports of vegetable oils.

But imports from Russia between January to November last year slumped by €788 million chiefly due to lower prices and volumes of oilseeds and cereal imports.

According to the latest monthly agri-food trade report from the European Commission the value of EU agri-food imports reached €15.5 billion in November alone.