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.
EU Council President Antonio Costa celebrated the 40th anniversary of Portugal's EU accession, hailing it as the catalyst for the nation's most significant period of social and economic development and a testament to European solidarity.
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The European Union and India reaffirmed their commitment to collaboration in third countries today, marking the start of a new phase in development cooperation.
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Afghanistan’s Taliban-led interim government has dismissed a recent United Nations report on the country’s security, human rights, and economic situation, calling it inaccurate and misleading.
Ukrainian President Volodymyr Zelenskyy says Russia handed over 21 bodies in a recent exchange—20 of them were Russian soldiers, and one a foreign mercenary.
India’s Home Minister Amit Shah says the Indus Waters Treaty with Pakistan "will never be restored," accusing Islamabad of violating the agreement.
Israeli fighter jets have destroyed three Iranian F-14s in the latest wave of airstrikes targeting central Iran, according to the IDF.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
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The USS Nimitz is heading to the Middle East amid tensions between Israel and Iran. The U.S. aircraft carrier has a decades-long history in the region, from the 1979 hostage crisis to modern deployments, often serving as a key asset during periods of rising friction with Iran.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 17th, covering the latest developments you need to know.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
Japan’s core inflation rose to a more than two-year high in May, exceeding the central bank’s 2% target for over three years and increasing pressure on the Bank of Japan (BOJ) to resume rate hikes.
Two Nigerian communities will take Shell to trial in the UK in 2027 after winning a court ruling over Niger Delta oil pollution.
The European Investment Bank (EIB) announced Friday it is raising its financing ceiling to a record €100 billion to accelerate investments in defence, energy security and Europe’s technological leadership.
Meta has teamed up with Oakley to release AI-powered smart glasses, expanding its push into wearable tech after the success of Ray-Ban Meta glasses. The social media company is expanding its partnership with Oakley and Ray-Ban-parent EssilorLuxottica.
Afghanistan’s Taliban-led interim government has dismissed a recent United Nations report on the country’s security, human rights, and economic situation, calling it inaccurate and misleading.
Ukrainian President Volodymyr Zelenskyy says Russia handed over 21 bodies in a recent exchange—20 of them were Russian soldiers, and one a foreign mercenary.
India’s Home Minister Amit Shah says the Indus Waters Treaty with Pakistan "will never be restored," accusing Islamabad of violating the agreement.
Israeli fighter jets have destroyed three Iranian F-14s in the latest wave of airstrikes targeting central Iran, according to the IDF.
Germany’s federal government spent over 1.2 billion euros on software, licenses and IT services in 2024, more than 25% higher than the previous year.
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