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EU agri-food trade surplus reached +EUR 5.7 billion in August 2023, this is an 8% reduction month-on-month. It remains at a similar level than in August 2022. The cumulative trade balance (January to August 2023) reached EUR 44.3 billion. It is EUR 7.5 billion higher compared to the same period in 2022.
EU agri-food exports remained stable at EUR 18.2 billion in August 2023, and 10% below their level a year prior (August 2022). Cereals represented the largest reduction in export value compared to 2022 (-EUR 1.7 billion, -14%). This is mostly explained by a reduction in prices, in particular for wheat (unit value decreased by 21%), while volumes remained stable. Export values also decreased for pigmeat (-EUR 701 million, -8%), as volumes exported declined by 18%.
EU agri-food imports increased by 5% in August, to reach EUR 12.5 billion. This remains 15% below their level of August 2022. Cumulative imports from January to August 2023 reached EUR 107.4 billion. It remains stable compared to the same period in 2022 (-EUR 3 billion, -3%) Cereals imports represent the largest increase between January and August 2023 compared to 2022, with an increase of EUR 1.2 billion, mostly in wheat. This is explained by an increase of import volumes of 28% compared to 2022. However, monthly import volumes have been slowing down and were below their 2022 level in August. Import values decreased for oilseeds and protein crops compared to 2022 (-EUR 2 billion, -12%), as well as for vegetable oils (-1.9 billion, -27%). These reductions are mostly explained by reduced import prices.
November 24, 2023/ European Commission/ European Union.
https://agriculture.ec.europa.eu
