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 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 new business partnership between the European Union and Ukraine has been launched in Brussels where the EU-Ukraine Business Summit took place from April 10 to 11.
EU President Ursula von der Leyen and His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates agreed to launch negotiations on a free trade agreement. Commissioner Maroš Šefčovič will soon visit the UAE to take the talks forward.
The 4th session of the Permanent Forum on People of African Descent began this week at the UN headquarters in New York, bringing renewed international scrutiny to France and the Netherlands over their continued control of several overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 10th, covering the latest developments you need to know.
The death toll from the catastrophic roof collapse at a nightclub in Santo Domingo has risen to 98, with more than 160 people injured, according to Dominican authorities.
A quiet Thursday afternoon at St. Peter’s Basilica turned into something extraordinary, as visitors caught a rare glimpse of Pope Francis — not in his familiar white papal robes, but dressed in black trousers and a striped blanket.
In a dramatic about-face, U.S. President Donald Trump on Wednesday announced a 90-day pause on newly implemented tariffs for dozens of countries — a move that eased market turmoil but further escalated tensions with China.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
Wall Street’s main indexes surged on Monday, driven by gains in technology stocks, after the White House announced exemptions for smartphones and computers from new tariffs on Chinese imports. However, additional levies on semiconductors are still expected later this week.
The Russian government has approved the country’s energy strategy through 2050. Oil production is expected to rise to 540 million tons, while gas production is projected to reach 1.107 trillion cubic meters by that year.
Stock markets in Asia saw a boost on Monday, driven by optimism over tariff exemptions granted to electronics. This relief sparked gains in tech stocks, while investors in South Korea and Taiwan turned their focus to trade issues and semiconductor developments.
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.
The 4th session of the Permanent Forum on People of African Descent began this week at the UN headquarters in New York, bringing renewed international scrutiny to France and the Netherlands over their continued control of several overseas territories.
South Korea’s finance minister said Tuesday that Seoul will seek to delay U.S. tariffs for as long as possible, as negotiations with Washington continue amid mounting pressure on the country’s export-dependent economy.
Russian Foreign Minister Sergei Lavrov said reaching a peace agreement with the United States over the war in Ukraine remains difficult, as Moscow stands firm on its demands and vows never to return to economic dependence on the West.
Start your day informed with AnewZ Morning Brief: here are the top news stories for April 15th, covering the latest developments you need to know.
Asian markets edged higher on Tuesday, lifted by gains in auto stocks after US President Donald Trump suggested he might ease tariffs on vehicles.
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