EU agri-food trade surplus increases in September 2023

After a stable summer, the EU agri-food trade surplus reached €6.7 billion in September 2023. This is an 18% increase compared to both August 2023 and September 2022. The cumulative trade balance from January to September 2023 reached €51 billion, which is €8.5 billion higher compared to the same period in 2022. These are the main findings of the latest monthly agri-food trade report published today by the European Commission.

Exports

In September 2023, EU exports reached €19 billion, a 5% increase compared to the previous month, but still 9% below their September 2022 level. Cumulative exports since January reached €170.7 billion, 2% higher compared than in the same period in 2022.

Compared to 2022, EU cumulative exports increased significantly in 2023 towards the United Kingdom (€3 billion, +8%) and Türkiye (+ €836 million, +29%), whereas EU exports to the US decreased by 8% (-€1.9 billion) and to Egypt by 36% (- €739 million).

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

In terms of exported products, main increases were for cereal preparations (+ €1.4 billion, +8%), and preparations of fruit and nuts (+ €1.3 billion, +17%) in comparison to 2022. At the same time, cereals exports decreased by € 1.9 billion (-15%, mainly driven by lower unit values) as well as pigmeat (- €986 million, -10%) and spirits and liqueurs (- €555 million, -7%). Furthermore, volumes exported increased by 29% for vegetable oils and 13% for oilseeds and protein crops.

Imports

The value of EU agri-food imports was €12.3 billion in September, a 2% reduction compared to the previous month and 19% below their level in September 2022. Cumulative imports from January to September 2023 reached €119.7 billion, a 5% reduction compared to the same period in 2022 (‑ €5.9 billion).

In term of imported products, reductions were observed in imports of oilseeds and protein crops (‑€2.7 billion, ‑14%) as well as vegetable oils, (‑€2.3 billion, ‑28%), due to reductions of both prices and volumes.

2023 imports decreased mostly from Brazil (‑ €1.9 billion, ‑13%, mostly in soya beans, coffee, and maize), and Argentina (‑ €1.4, ‑27%, mostly soya meals). Declines were also recorded from Australia (‑ €889 million, ‑29%, mostly rapeseed), China (- €854 million, ‑12%), as well as from Indonesia (‑ €555 million, ‑11%).

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