Economic Buzz: EU Agri Food exports up 3% on year in 2024, imports spike 8%

EU agri-food exports reached ?235.4 billion in 2024, an increase of 3% year on year (+ ?6.6 billion). The UK remained the first destination of EU agri-food exports in 2024, representing 23% of total exports (?53.9 billion). Among other significant evolutions in 2024, EU exports increased to Switzerland (+ ?653 million, +6%) and Japan (+ ?458 million, +6%). Cereal preparations, dairy products, and wine head the list of products in the sector; while olives and cocoa products had the biggest increases in value, due largely to price surges. EU agri-food imports hit ?171.8 billion, an increase of 8% compared to 2023 (+ ?12.4 billion). The UK, Ukraine and Brazil remain the biggest sources of imported goods. The most imported products in value include cocoa and coffee, notably due to continuously increasing global prices during the year. They were followed by fruit and nuts and oilseeds and protein crops.

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