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The monthly EU trade flows of agricultural and food products reached a new record value of €36.9 billion in November 2022. Since the beginning of 2022, EU agri-food trade reached a total of €369 billion, which represents a 23% increase compared to the same period in 2021 (Jan-Nov). This can be explained by an increase of the value of both EU agri-food exports and imports, by 17% and 34% respectively. The EU trade balance stands at €53.5 billion from January to November 2022. These are the main finding of the latest monthly agri-food trade report published today by the European Commission.
Compared to October 2022, EU agri-food exports slightly increased compared to the previous month, reaching EUR 21.2 billion, a 2% increase. From January to November 2022, EU agri-food exports reached €211 billion. When looking at specific sectors, the data confirm the higher EU exports of wheat from January to November 2022. The two main destinations for EU products are the UK and the United States. EU exports to these two markets notably increased since the beginning of 2022, by 21% to the UK and by 13% to the US. EU exports of pigmeat, cereals and vegetable oils to China decreased in the same period, while EU exports to Russia declined significantly both in quantity and value terms for a range of sectors. Pig meat exports to China declined 42% in quantity and 39% in value over the Jan-Nov 2022 period. Overall exports of pig meat for the period declined 15%.
EU imports of agriculture and food products remained quite stable in November 2022 compared with the previous month. However, due to higher food prices on the global markets, the value of EU imports increased and reached €157 billion in the 11 months of 2022. The three main origin countries exporting agri-food products to the EU are Brazil, the UK and Ukraine. Imports from these origins increased mainly in values but also in quantities for certain products. Biggest increases over the year 2022 were recorded for imports of primary commodities, such as maize (+9 million tonnes), soya cake (+737 thousand tonnes), and rapeseed (+1.3 million tonnes).
March 7, 2023/ European Commission/ European Union.
https://agriculture.ec.europa.eu
