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 EU agrifood trade balance is largely positive at €63.6 billion.
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.
The US was the second main destination of EU exports in 2024 (13% of EU exports) and had the largest increase compared to 2023 (+ EUR 3.3 billion, +12%).
China was the third main destination of EU exports in 2024 (6% of EU exports). However, EU exports to China registered the largest reduction, with a decrease of EUR 1.3 billion (-9%) compared to 2023.
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 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 will stand with Moldova in every step of the way until the very membership,” - stated Kaja Kallas, EU High Representative for Foreign Affairs and Security Policy, Vice-President of the European Commission at her joint press-conference with the President of Moldova, Maia Sandu.
EU’s increasing focus on connectivity — not only within the Eastern Partnership (EaP) region but extending towards Central Asia and Türkiye was a key message throughout the Business Forum held in Warsaw under the Polish EU Council Presidency.
The European Union is drafting its 17th package of sanctions against Russia, to be discussed at a foreign ministers' meeting in May, according to the bloc’s foreign policy chief Kaja Kallas.
The European Council decided on Monday to impose restrictive measures on an additional seven individuals and two entities responsible for serious human rights violations in Iran, including for the use of the judiciary as a tool for arbitrary detention.
To facilitate Ukraine's access to global markets by ensuring smoother transit through EU countries, the EU and Ukraine have extended their Road Transport Agreement until December 31, 2025.
A fierce khamsin dust storm cloaked the Egyptian capital in a yellow haze on Wednesday, shutting schools and cutting visibility as winds gusting to 80 kph swept across Cairo and much of the country.
Russian drone strikes targeted the Ukrainian cities of Kharkiv and Dnipro late Tuesday, killing at least one person and injuring around 50 others, according to local officials. And, a drone strike continues in Dobropillia in Donetsk Oblast on Wednesday.
A satellite developed by British scientists and engineers is poised to become the world’s first to capture three-dimensional measurements of Earth’s forests from space.
Operation in Iran’s Shahid Rajaei Port in the southern city of Bandar Abbas is back to normal after firefighters put off the deadly fire which broke out on Saturday, customs authorities said.
Germany’s Social Democratic Party (SPD) has approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), securing the final step needed to form a new government under Chancellor-designate Friedrich Merz.
Russia launched a major missile and drone assault on Kyiv overnight on April 24, killing at least twelve people and injuring 90, including children and a pregnant woman, according to Mayor Vitali Klitschko.
In an expansive interview marking his first 100 days back in office, President Donald Trump sketched out an agenda that touches everything from punitive tariffs and China policy to cease-fire hopes in Ukraine and an overhaul of domestic programmes. Below are the highlights.
A deadly explosion at Iran’s Bandar Abbas port has left at least 40 dead, with more than 1,200 people injured, state media reported on Sunday, halting operations at one of the country’s most vital trade hubs.
For three generations, the Liebigs built railcars in Görlitz. Now, the factory that shaped their lives will produce parts for battle tanks.
North Korea has launched a new 5,000-tonne destroyer as part of Kim Jong Un’s plans to expand the country’s naval power far beyond its coastal waters.
Online retail platform Temu has begun adding steep “import charges” of around 145% to orders shipped to the United States, a direct response to President Donald Trump’s newly imposed tariffs on Chinese goods, CNBC reported.
Saudi Arabia and Qatar have agreed to settle Syria's $15 million arrears with the World Bank, allowing the institution to resume grants for the country's reconstruction and support for its public sector.
IMF and World Bank meetings in Washington left global finance leaders with more questions than answers on the economic impact of U.S. tariffs. Discussions on trade and debt concerns highlighted growing uncertainty, as markets worry about the broader economic fallout.
President Donald Trump on Thursday signed an executive order aimed at boosting the deep-sea mining industry, marking his latest attempt to boost U.S. access to nickel, copper and other critical minerals used widely across the economy.
Uzbekistan and Iran have agreed to establish a Joint Business Council aimed at fostering development of business ties and facilitating the resolution of issues between entrepreneurs from both countries.
A fierce khamsin dust storm cloaked the Egyptian capital in a yellow haze on Wednesday, shutting schools and cutting visibility as winds gusting to 80 kph swept across Cairo and much of the country.
Russian drone strikes targeted the Ukrainian cities of Kharkiv and Dnipro late Tuesday, killing at least one person and injuring around 50 others, according to local officials. And, a drone strike continues in Dobropillia in Donetsk Oblast on Wednesday.
A satellite developed by British scientists and engineers is poised to become the world’s first to capture three-dimensional measurements of Earth’s forests from space.
Operation in Iran’s Shahid Rajaei Port in the southern city of Bandar Abbas is back to normal after firefighters put off the deadly fire which broke out on Saturday, customs authorities said.
Germany’s Social Democratic Party (SPD) has approved a coalition agreement with the conservative Christian Democrats (CDU/CSU), securing the final step needed to form a new government under Chancellor-designate Friedrich Merz.
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