EU agri-food exports back at their April 2022 level amid curtailed trade

After the record high exports in March 2023, the EU agri-food trade slowed down in April 2023. Overall, EU exports remained at €17.8 billion in April 2023 due to higher exports prices, while EU imports were at €13 billion resulting in an agri-food surplus of +€4.8 billion. These are the main findings of the latest monthly agri-food trade report published today by the European Commission.

Exports

In April 2023, EU agri-food exports were back at the same level as in April 2022. Nonetheless, compared to the same period in 2022 the cumulative exports between January and April were 10% higher in 2023 (+€6.8 billion).

This increase is mostly explained by higher exports prices, while a few products also saw their export volumes increase, such as vegetable oils (+38%), oilseeds and protein crops (+17%), margarine and other oils and fats (+16%) and cereals (+7%). The products with most important changes in value included cereal preparations and milling products, preparations of fruits, nuts and vegetables, as well as dairy products.

The top three destinations for EU agri-food exports between January and April 2023 remained the United Kingdom, the United States, and China.

Imports

In April 2023, a reduction in imports was observed across most products resulting in decreased EU agri-food imports. Reduced imports were observed from Russia (‑€413 million, -40%), Argentina (‑€258 million, ‑14%, mostly in protein crops), China (‑€212 million, ‑7%, mainly in non-edibles), the Philippines (‑€209 million, ‑39%; mainly in margarine and other oils and fats) and Moldova (‑€192 million, ‑43%). On the other hand, imports of sugar and isoglucose have increased significantly subsequently degrading the trade balance for sugar and isoglucose. The most imported goods in value continued to be oilseed and protein crops, fruit and nuts, and coffee, tea, cocoa and spices.

The top three import countries between January and April 2023 were Brazil, the United Kingdom and Ukraine.

More insights as well as detailed tables are available below in the latest edition of the monthly EU agri-food trade report.