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 European Union Council will hold hearings on May 27 regarding the possible suspension of Hungary’s voting rights within the Union. The information was published on the Council’s official website.
EU foreign ministers will convene in Brussels on 20th May. The upcoming Foreign Affairs Council will be chaired by the EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas.
Foreign Secretary heads to EU Foreign Ministers meeting to highlight the need for a new, ambitious security relationship. David Lammy will attend attends high-level Gymnich EU talks in Poland.
The European Commission has presented a roadmap to ensure the EU fully ends its dependency on Russian energy, while ensuring stable energy supplies and prices across the EU.
In a boost for the green transition in the Middle East and North Africa, a joint guarantee agreement worth €300 million to facilitate the green transformation of urban areas and support the development of green hydrogen market in the Middle East and North Africa has been signed.
Türkiye’s first floating natural gas production platform, Osman Gazi, reached Filyos Port in Zonguldak on May 31.
Authorities in Whatcom County, Washington, issued a warning Friday after a truck carrying honey bee hives overturned near the Canadian border, initially prompting fears that millions of bees had been released.
German Chancellor Friedrich Merz will travel to Washington next week to meet U.S. President Donald Trump.
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
On May 28, the inauguration ceremony of Lachin International Airport was held.
A car drove into crowds of Liverpool fans celebrating the club’s Premier League title in the city centre on Monday evening, injuring dozens including 4 children. A 53-year-old man believed to be the driver was arrested at the scene.
EU ministers have greenlit a massive €150 billion defense investment fund—dubbed the Security Action for Europe (SAFE)—as the bloc ramps up its military readiness in response to Russia’s aggression and growing uncertainty over U.S. security guarantees.
Brazil’s economy is expected to have regained momentum in the first quarter of 2025, driven by a surge in household spending and private investment, according to a Reuters poll of economists conducted from May 21–26.
An international academic conference titled "Islamophobia: Exposing Prejudice and Destroying Stigma" has officially opened in the capital of Azerbaijan, bringing together global scholars, experts, and policymakers to address the rise and consequences of anti-Muslim discrimination.
President Donald Trump announced that he will increase steel tariffs from 25% to 50%, a move that could push up costs for industries relying on steel, including housing and auto manufacturing.
U.S. stocks wrapped up the week with a mixed finish after President Donald Trump accused China of breaking a recent trade agreement, reigniting global market jitters just weeks after a deal was struck in Geneva.
Volkswagen is negotiating directly with the U.S. government to ease tariffs in exchange for deeper investment commitments.
Wall Street futures slipped as a surprise court ruling brought back most of Trump-era tariffs, shaking investor confidence heading into month-end.
Model Hailey Bieber is selling her skincare brand Rhode to e.l.f. Beauty in a deal worth up to $1 billion (£790 million), with plans for international expansion and continued viral success.
Türkiye’s first floating natural gas production platform, Osman Gazi, reached Filyos Port in Zonguldak on May 31.
Authorities in Whatcom County, Washington, issued a warning Friday after a truck carrying honey bee hives overturned near the Canadian border, initially prompting fears that millions of bees had been released.
German Chancellor Friedrich Merz will travel to Washington next week to meet U.S. President Donald Trump.
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
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