The European Commission has published the latest monthly report on trade, showing the evolution in January 2024 of imports and exports of agri-food products from the EU.

According to the main findings of the report, EU agri-food trade recorded a positive growth.

The trade surplus reached 5 billion EUR – up by 27% compared to January 2023. Agri-food exports reached 18.4 billion EUR, which means an increase of 2% compared to January 2023.

Regarding exports, the United Kingdom remained the top destination for EU exports, accounting for 23% of exports, with an 8% increase in value compared to January 2023. Exports to the United States also increased by 9%.

Significant increases were recorded in exports of olives and olive oil (+146%), mixed food preparations (+10%), and sugar and isoglucose (+152% in volume). On the other hand, exports of vegetable oils (-43%) and dairy products (-7%) decreased.

Exports to China decreased by 11%, mainly due to reduced prices of certain products, such as cereal-based preparations and pork.

As for imports, agri-food imports into the EU increased by 10%, reaching 13.4 billion EUR compared to December 2023, but remained 5% below January 2023 levels.

Brazil and Ukraine were the main sources of imports. Imports from Côte d'Ivoire increased by 83%, mainly due to increased imports of cocoa products.

An increase in imports of olives and olive oil (+168%) was observed, while cereals (-34%), oilseeds and protein crops (-14%), and vegetable oils (-25%) recorded declines.

This trade dynamics reflects the current market changes and the evolution of trade relations within the EU's agri-food sector.