The European Commission’s 2024 agri-food report shows that both exports and imports in the sector reached a record level. Despite on-going global challenges, the report describes several positive developments. The EU agrifood trade balance is largely positive at €63.6 billion.
Continued growth in exports
Year on year, cumulative EU agri-food exports increased by 3% (+€6.6 billion) to €235.4 billion. The UK remained the first destination of EU agri-food exports in 2024, representing 23% of EU exports (€53.9 billion). Exports to Russia and China declined.
While cereal preparations (€24.8 billion, 11%), dairy products (€19.7 billion, 8%), and wine (€17.4 billion, 7%) head the list of products in the sector, olives, and cocoa products had the biggest increases in value, due largely to price surges.
Imports also rising
Imports in agri-food also reached a new record level, growing by 8% (+€12.4 billion) to €171.8 billion. This was primarily driven by a steep increase in the price of cocoa imports, as well as coffee and fruits and nuts. On their side, cereal exports went down due to lower prices and volumes. The UK, Ukraine and Brazil remain the biggest sources of imported goods. Côte d’Ivoire, Ukraine and Nigeria saw the most significant increases in exports to the EU. Imports from Russia (-€865 million, -46%) and Australia (-€722 million, -28%) declined.
The EU continues to trade with a broad range of trading partners and to export a diversified basket of products, contributing to the resilience of the sector. The full report is now online and provides detailed insights and data on these developments.
Monitoring EU agri-food trade: developments in 2024
