Europe's agri-food exports and imports reached record levels in October 2024, according to a new report issued today (Friday, January 24) by the European Commission.

Last October, the total number of exports was worth €21.7 billion, while imports came in at €16.2 billion.

The latest agri-food trade report shows that in October 2024 there was a 19% increase in exports and a 10% increase on imports month-on-month.

The cumulative data from January to October 2024 shows a 6% rise in imports and a 3% increase in exports in the EU during that period.

The report highlighted that between January and October 2024, the cumulative exports in the EU reached €197.3 billion, a 3% increase on the same period in 2023.

During the same period, the cumulative number of imports reached €141.1 billion, 6% higher than October 2023.

The latest statistics suggest that the UK is still Europe's biggest source of agri-food exports, with €44.9 billion exported between January and October 2024. This accounts for 23% of the EU's agri-food exports.

European countries also export a large quantity of goods to the United States, with a value of €25.1 billion exported to the US. The main exports to America are wine and wine-based products.

China is Europe's third biggest export location, accounting for 6% of the EU's exports, €11.4 billion, exported to China between January and October last year. However, this was the EU's largest export reduction, with a decrease of €937 million compared to 2023.

Brazil is comfortably the EU's largest source of agri-food imports. Between January and October, €14.4 billion was imported into the EU, largely in soy and coffee. This accounts for 10% of Europe's agri-food imports.

The UK followed with an import value of €12.7 billion, which is 9% of EU imports. Imports from the UK are mainly in spirits liqueurs, cereal preparations, mixed food preparations, and dairy products. However, UK imports decreased by 2%, €203 million, compared to 2023.

Imports from Ukraine reached €10.9 billion, 8% of EU imports. Imports from Ukraine rose by €1.3 billion, mainly due to higher imports of vegetable oils and oilseeds.