Agrifood, EU exports to the United States increased by 12 per cent in 2024

Brussels – The tariffs imposed by Donald Trump to the entry of European (and worldwide) products into the U.S. will most likely reverse a trend that, as far as EU agribusiness is concerned, is growing strongly: in 2024, agribusiness exports from the 27 member countries to the U.S. increased by 12 per cent over the previous year, an increase worth €3.3 billion. After London, Washington is the second favourite destination for EU agribusiness.

The snapshot taken by the European Commission in the annual report published today (April 8) gives an idea of the concerns of European farmers and producers. Thirteen per cent of the EU’s exports go to the United States, mainly wine products, grain preparations and milling products, spirits and liqueurs, and olives and olive oil. “However, the EU’s export partners are well diversified and distributed in all regions of the world,” Brussels keeps calm.

EU food exports reached a record level of €235.4 billion, up 3 per cent from the peak in 2022 and 2023 (+€6.6 billion). While the United Kingdom and the United States are the main destinations for EU exports, China and Russia are losing market share. Beijing, while still the third largest destination of EU exports (6 per cent of the total), recorded a decrease of 1.3 billion compared to 2023.

The EU’s agri-food imports also reached a record level of €171.8 billion in 2024, up 8 per cent from 2023 (+12.4 billion), slightly surpassing the record reached in 2022. The main regions of origin were the neighbouring countries of Eastern Europe, the Western Balkans and Turkey (15 per cent of the value of EU imports in 2024), Mercosur (14 per cent), Western Europe (13 per cent) and sub-Saharan Africa (12 per cent). North America’s share is only 8 per cent. The steepest declines in imports were from Russia (-865 million, down 46 per cent) and Australia (-722 million, down 28 per cent).