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.
Norway could soon receive a major boost to its airborne defence, as Washington signals readiness to expand military cooperation through a new high-val...
A British man accused of running a $100 million fake wine loan scam pleaded not guilty in New York, denying claims that he sold investors a vintage co...
The U.S. is set to support Lebanon’s military readiness with a $100 million deal to sustain A-29 Super Tucano aircraft, enhancing the Lebanese Armed...
U.S. singer Chris Brown pleaded not guilty in London to charges of assault and possessing an offensive weapon following a nightclub incident two years...
The U.S. unexpectedly recorded a $27 billion budget surplus in June, reversing last year’s deficit. This improvement reflects stronger customs colle...
The European Commission has proposed an amendment to the EU Climate Law aimed at reducing net greenhouse gas emissions 90% by 2040, compared with 1990 levels.
Armenian Foreign Minister Ararat Mirzoyan announced the successful conclusion of negotiations with the European Union on a new Partnership Agenda following the official visit of EU High Representative for Foreign Affairs and Security Policy Kaja Kallas to Yerevan.
The EU today officially agreed to extend sectoral sanctions on Russia, EU High Representative for Foreign Affairs and Security Policy Kaja Kallas announced via X.
The European Union plans closer cooperation with Pacific Rim nations under the CPTPP to advance global trade rules, but insists it is not seeking to replace the World Trade Organization.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
European shares dropped on Friday after President Donald Trump intensified tariff threats against the EU, casting doubt on trade talks and dampening investor confidence.
Turkmenistan has gathered 1.407 million tonnes of wheat, matching its 2025 goal after a round-the-clock harvest on 690,000 hectares that officials say was bolstered by new combines and higher state purchase prices.
Azerbaijan Railways CJSC signed a Memorandum of Understanding with the Chinese company 'Xi'an Free Trade Port Construction and Operation' and has opened its representative office and container terminal in the Xi'an International Port.
The UK and Japan have signed a Memorandum of Cooperation (MoC) aimed at enabling increased UK investment into Japan, further strengthening the economic ties between the two nations.
German inflation eased to 2.0% in June, the federal statistics office said on Thursday, confirming preliminary data.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment