EU agri-food trade off to a good start in January 2023

EU agri-food exports and imports remained strong in January 2023 compared to January 2022 reaching a total of €31.8 billion, while declining for the second month in a row. In value terms, EU exports reached €18 billion, and EU imports €13.8 billion. This has resulted in another positive trade balance for the EU at €4.2 billion. These are the main finding of the latest monthly agri-food trade report published today by the European Commission.

Exports

In January 2023, the EU exported mainly cereal preparations and milling products (€1.9 billion, +28% year-to-year). In general, cereals exports were also slightly up compared to last year (+4%) and reached €1.1 billion. Thanks to strong exports, the EU trade balance for cereals reached €619 million that month. Exports of dairy products were also higher than in January 2022 (+19%) and reached €1.6 billion, mostly thanks to cheese and curd, and dairy powders.

In terms of destinations, the United Kingdom remained by far the first destination of EU agri-food exports, representing 22% of the total. The United States was second, with 11%, and China remained third with 7%.

Imports

In January 2023, EU agri-food imports reached €13.8 billion (+ €1.3 billion year-to-year, +10%).

Brazil remained the first import source for the EU, representing 10% of total imports. From Brazil, EU’s maize imports have increased the most compared to January 2022 (+259%, €144 million). This corresponded to an increase of 448 thousand tonnes. Ukraine became the second source of EU agri-food imports that month. Compared with a year ago, EU imports from Ukraine increased by 16%, to reach €1.2 billion. While still high, EU imports of cereals from Ukraine declined for the second month in a row in January, reaching a value of EUR 608 million.

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