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In October 2024, EU agri-food trade reached record levels, with exports totalling €21.7 billion and imports at €16.2 billion. Exports increased by 10% and imports by 19% month-on-month. Cumulative data from January to October shows a 6% rise in imports and a 3% increase in exports.
EU agri-food exports were 8% higher than October 2023. This growth was driven by increased export volumes and sustained high prices since 2022. Cumulative exports for the year reached €197.3 billion, a 3% increase compared to 2023.
The United Kingdom and the United States remained the top destinations for EU agri-food exports between January and October 2024, valued at €44.9 billion and €25.1 billion, respectively. Exports to China declined by €937 million (-8%) due to reduced shipments of cereals, pigmeat, and dairy.
EU agri-food imports rose 21% compared to October 2023. This growth was driven by higher import volumes and prices, approaching 2022 levels. Cumulative imports from January to October totalled €141.1 billion, 6% higher than in 2023.
Imports from Brazil remained the largest at €14.4 billion, despite a 3% decline due to lower oilseed prices and cereals volumes. Meanwhile, imports from Côte d'Ivoire saw the biggest increase (+€2 billion, +60%), mainly driven by rising cocoa prices, while Australia and Russia experienced the largest reductions.
January 24, 2025/ European Commission/ European Union.
https://agriculture.ec.europa.eu
