According to the European Commission data, January 2022 saw a 25% increase compared to last year
Agri-food trade in the EU seems to have overcome the pandemic crisis. This is demonstrated by the latest data published by the European Commission, according to which the total value of trade in the agri-food sector reached 28.3 billion euros in January 2022, an increase of 25% compared to the same period last year.
Exports reached 15.8 billion euros, while imports were valued at 12.5 billion euros, an increase of 16% and 38% respectively. In January, the downward trend in exports and the increase in imports of agri-food products, which began in autumn 2021, continued.
The largest increases in exports were to the UK and the US, which together with China account for 40% of all EU agri-food exports. The main sources of agri-food imports in January 2022 were the United States and Brazil, followed by the United Kingdom and Ukraine. These four countries account for 35% of all agri-food imports to the EU. With regard to Ukraine, it should be noted that before the Russian invasion, imports had increased progressively to 88% in January 2022, reaching a value of 1 billion euros. This was mainly due to cereal imports, which increased by 258 million euros (136%).
Analysing the specific products, the three main EU export categories are cereal preparations and milling products, dairy products, as well as wine-based drinks and wine. These three sectors, which represent a quarter of all agri-food exports, increased the value of exports in January 2022 by 203, 219 and 227 million euros respectively.
Cereal exports also recorded strong growth of 210 million euros, or 24%. Pig meat remains the fourth most important export sector, although the value of exports fell by 233 million euros (-16%) compared to last year’s January.
In January 2022, imports of oilseeds and protein crops reached 1.7 billion euros. These products account for 14% of all food imports in 2021.