In value terms, EU exports reached €18bn, and EU imports €13.8bn. This has resulted in another positive trade balance for the EU at €4.2bn. In January 2023, the EU exported mainly cereal preparations and milling products (€1.9bn, +28 per cent year-to-year). In general, cereals exports were also slightly up compared to last year (+4 per cent) and reached €1.1bn. Thanks to strong exports, the EU trade balance for cereals reached €619m that month. Exports of dairy products were also higher than in January 2022 (+19 per cent) and reached €1.6bn, mostly thanks to cheese and curd, and dairy powders.
In terms of destinations, the UK remained by far the first destination of EU agri-food exports, representing 22 per cent of the total. The US was second, with 11 per cent, and China remained third with 7 per cent.
In January 2023, EU agri-food imports reached €13.8 billion (+ €1.3bn year-to-year, +10 per cent). Brazil remained the first import source for the EU, representing 10 per cent of total imports. From Brazil, EU’s maize imports have increased the most compared to January 2022 (+259 per cent, €144m). This corresponded to an increase of 448 thousand tonnes. Ukraine became the second source of EU agri-food imports that month. Compared with a year ago, EU imports from Ukraine increased by 16 per cent, to reach €1.2bn. While still high, EU imports of cereals from Ukraine declined for the second month in a row in January, reaching a value of €608m.