Both EU agri-food exports and imports increased in August 2022, leading to the highest point for EU monthly trade flows in 2022 at €35 billion. EU’s trade balance has also reached its highest value of the year that same month at €5.6 billion. The value of EU exports increased by 6% and imports by 3% compared to July 2022. These are the main finding of the latest monthly agri-food trade report published today by the European Commission.
The latest monthly agri-food trade report also features a special focus on trade flows between the EU and India.
The biggest export values in August were for cereal preparations (€1.7 billion), wheat (€ 1.6 billion) and wine (€1.4 billion). Large shares of EU wheat exports are going to the Middle East/North Africa (MENA) region and to sub-Saharan Africa. In August only, 2 million tons of wheat reached the MENA region (48% of total EU wheat exports) and 1.5 million tons arrived in sub-Saharan Africa (34% of total EU wheat exports).
If we look at all agri-food products exported, the EU’s most important importing countries in August were the United Kingdom, the United States and China. From the beginning of the year until August 2022, over a third (36%) of EU exports of wine actually went to North America. In total, the EU exported €148 billion of agri-food products from January to August 2022. This corresponds to 75% of the value of total 2021 exports.
In August 2022, the EU mainly imported from Brazil, the UK and Ukraine. EU imports from Ukraine increased by 19% in August compared to July, mainly due to increased imports of rapeseed (+469%) and wheat (+246%) in value terms. EU maize imports from several origins rose significantly in August (by 77% in volume) due to the summer drought that affected yields across EU countries.
Total EU imports from January to August 2022 reached € 110.9 billion, corresponding to 85% of the annual imports in 2021.
EU agri-food trade with India
India is one of the largest trade partner for EU. In agri-food, the EU imports more from India than it exports in value. The most imported products are coffee, tea, cocoa and spices for a value of €521 million, followed by soya meals, rice and raw tobacco. The top three EU products exported to India are plant fibers, dairy products and fruit and nut (mostly apple and pears).
More insights as well as detailed tables are available below in the latest edition of the monthly EU agri-food trade report.
- 29 november 2022
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