Brussels: Europe and the Arabs
The latest report on agri-food trade published by the European Commission showed that the EU’s agri-food trade surplus rose by 15% in September 2024, reaching €6 billion. This represents a significant increase compared to the previous month. The EU’s surplus amounted to €50.6 billion between January and September 2024, remaining stable compared to the same period in 2023.
EU exports amounted to €19.6 billion in September 2024, up 5% on the previous month and 3% higher than in September 2023. Since January, cumulative EU exports have reached €175.5 billion, up 2% on the same period in 2023. The value of EU exports of olives and olive oil increased significantly, by €2 billion (54%), due to higher prices. Similarly, EU exports of cocoa products also increased, driven by higher prices. In contrast, EU cereal exports saw the largest decrease in value, down by €1.7 billion in value (-15%), due to lower world prices. Export volumes remained high with 1.6 million tonnes of additional wheat exported compared to September last year. EU imports remained stable month-on-month in September at €13.6 billion. Cumulative imports between January and September amounted to €124.9 billion, up 4% compared to 2023. The value of cocoa imports increased significantly compared to 2023, as world prices continued to rise. Fruit and nuts imports also grew by €1.4 billion (+8%), mainly due to higher prices. Conversely, imports of oilseeds and cereals decreased, mainly due to lower prices. Imports from Côte d'Ivoire saw the largest increase between January and September compared to 2023 (+€1.7 billion, +57%), driven by higher cocoa prices. Imports from Nigeria also saw a significant increase of 150% (+€761 million) for the same reason.