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In April 2024, the EU agri-food trade surplus reached €5 billion, still 4% higher than in April 2023, despite a reduction of 25% compared to the previous month. Exports reached €19.8 billion, mainly due to increased prices of olives and olive oil. Imports represented €14.8 billion.
EU agri-food exports reached €19.8 billion in April 2024, close to their value of the previous month but 10% higher than April 2023. Cumulative exports since January reached €77.8 billion.
With an increase of €829 million, exports to the United States increased the most, a result largely explained by the high price of olives and olive oil. These products are driving total EU agri-food exports with an increase of 62% in value compared with 2023.
On the other hand, EU cumulative exports to China had the largest reduction in value between January and April (-EUR 565 million, -11%). This is mainly explained by reduced export volumes and prices for the two first EU exports to China: cereal preparations (-EUR 306 million, -27%) and pigmeat (-EUR 314 million, -32%).
EU agri-food imports reached €14.8 billion in April, a 10% increase from the previous month mainly explained by the high prices of cocoa. Cumulative imports from January to April 2024 are worth €54.9 billion, stable with the same period in 2023.
Imports of cereals had the largest reduction, with a decrease of €1.5 billion (-33%), due to reduction in imported volumes and world prices. A similar decrease worth €1.3 billion was observed for oilseeds and protein crops because of lower prices.
Côte d’Ivoire and Nigeria benefitted the most from higher EU import values of cocoa. Compared to 2023, the EU reduced its imports from Indonesia (mainly palm oil) and from Australia (mainly rapeseed).
July 24, 2024/ European Commission/ European Union.
https://agriculture.ec.europa.eu
