EU agri-food exports reached €19.8 billion in April 2024, which is slightly down on March, but 10% higher than a year previously, the European Commission has said.
Export values increased significantly for olives and olive oil due to increased prices, however, they decreased for vegetables oils and cereals.
The data published today (Thursday, July 25) shows that EU agri-food imports increased by 10% month-on-month in April 2024 to €14.8 billion, 12% higher than the same month in the previous year.
Imports of cocoa products, fruit and nuts and olives and olive oil increased, while those of oilseeds and cereals decreased.
In April 2024, the EU agri-food trade surplus reached €5 billion, which is 4% higher than in April 2023, despite a reduction of 25% compared to the previous month.
Agri-food exports
The report shows that EU agri-food exports between January and April were valued at €77.8 billion, a similar level to the previous year.
Cereal preparations and milling products represented 10% of EU exports value, at €7.9
billion, followed by dairy products on 8% (€6.3 billion) and wine and wine-based products at 7%, €5.4 billion.
The US was the destination with the largest increase in EU exports between January and April, up €829 million or 9% in the period, mainly due to the high price of olives and olive oil.
These products are driving total EU agri-food exports with an increase of 62% in value compared with 2023.
Exports to the UK grew by €679 million (4%) compared to 2023, while exports to Lebanon rose 72% or €138 million, mainly in live animals and sugar.
The data shows that exports to China dropped by 11% or €565 million in the four months, due to reduced volumes and prices of cereal preparations and pigmeat.
Exports to Russia were down €429 million (-17%) due to reduced volumes across most categories.
Imports
Cumulative agri-food imports to the EU from January to April were worth €54.9 billion, again stable with the same period in 2023.
Imports of cereals had the largest reduction with a decrease of €1.5 billion (-33%), due to reduction in imported volumes and world prices.
A similar decrease worth €1.3 billion was observed for oilseeds and protein crops because of lower prices.
Imports of coffee, tea, cocoa and spices had the largest increase of €1.4 billion (16%) because of increased prices of cocoa products.
The commission said that imports of fruit and nuts also grew by €778 million (11%), due to increased volumes.
Cote d’Ivoire and Nigeria benefitted the most from higher EU import values of cocoa products.