The EU’s agri-food trade balance reached a record level in 2023, according to a report published on Friday 5 April by the European Commission.
For 2023, EU exports reached €228.6 billion and imports €158.6 billion, representing a total surplus of €70.1 billion (+22% and +€12.8 billion compared to 2022).
This positive balance is mainly due to prices for EU export products remaining high, combined with a fall in world prices for imported products. The main drivers of EU exports were cereal preparations, dairy products and wine. As far as imports are concerned, the EU continues to record a trade deficit in certain product categories such as oilseeds and protein crops, fruit and nuts, as well as coffee, tea, cocoa and spices. Thanks to its recognised quality, competitiveness and high level of diversification, the European Union remains the world’s leading trader in agri-food products.
The United Kingdom is the leading destination for EU agri-food exports, accounting for 22% (€51.3 billion), ahead of the United States. EU agri-food exports to Turkey (+€683 million - +7%) and Ukraine (+€533 million - +18%) have increased.
Link to the report: https://aeur.eu/f/bn7 (Original version in French by Lionel Changeur)