The value of trade in agricultural products between the European Union (EU) and the rest of the world reached €424.7 billion in 2022, an increase of €77.5 billion compared to 2021 when it stood at €347.2 billion. Last year, the EU exported €229.1 billion worth of agricultural products and imported €195.6 billion, generating a surplus of €33.5 billion.
From 2002 to 2022, EU trade in agricultural products nearly tripled, rising from €141.5 billion to €424.7 billion. This impressive growth equates to an average annual increase of nearly 5.6% during this period, with exports growing faster (5.9%) than imports (5.4%).
The United Kingdom was the EU’s leading export partner, accounting for 21% of extra-EU agricultural exports, or €47.8 billion. The United States followed with a 13% share (€29.0 billion), then China with 7% (€15.2 billion), Switzerland with 5% (€11.5 billion), Japan with 4% (€8.3 billion), and Russia with 3% (€7.0 billion).
Brazil was the top source of extra-EU imports, contributing 10% (€19.9 billion), followed by the United Kingdom with 8% (€16.4 billion), Ukraine with 7% (€13.1 billion), the United States with 6% (€12.3 billion), China with nearly 6% (€10.8 billion), and Norway with 5% (€9.3 billion).
Photo by Ivan Bandura on Unsplash
