Agricultural commerce declined for the primary time in 10 years in 2023 – 2024-05-16 11:52:46

A fall was recorded in 2023 within the worth of commerce in agricultural imports and exports between the European Union (EU) and the remainder of the world.

Particularly, EU commerce in agricultural merchandise in 2023 is estimated at 410.9 billion euros, 13.5 billion euros lower than in 2022 (424.4 billion euros), comparable to a lower of three.2%. The EU exported agricultural merchandise value €228.6 billion and imported €182.3 billion, making a surplus of €46.3 billion. Whereas the worth of exports between 2022 and 2023 remained steady, there was a notable lower within the worth of imports (-6.8%).

Between 2013 and 2023, EU agricultural commerce elevated by 56.2% (from €263.1 billion to €410.9 billion), equal to a median annual enhance of 4.6%. Throughout this era, exports grew quicker (4.7%) than imports (4.4%).

UK and Brazil, the EU’s greatest buying and selling companions

When it comes to export companions, the UK was the principle associate with a 22% share of EU agricultural exports (equal to €48.6 billion), adopted by america (12%, €27.5 billion ), China (6%, €13.5 billion), Switzerland (5%, €12.1 billion), Japan (3%, €7.2 billion) and Russia (3%, 6.6 billion euros).

EU imports got here primarily from Brazil (9%, €16.9 billion), the UK (8%, €15.8 billion), China (7%, €13.3 billion), america (7%, €13.1 billion), Ukraine (5%, €9.5 billion) and Norway (5%, €9.2 billion).

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