The biggest decline in agri-food exports from January to July of this year was seen in those to the UK, down by €411 million. While this represents a 2% decline, it does “illustrate a rebound in recent months” following reduced export values in the beginning of the year. Exports were almost 6% higher at €111.4 billion, with imports dropping marginally by 0.2% to €72.4 billion. This reflects an overall agri-food trade surplus of €39 billion for the first seven months of the year, an increase of 18% compared to the same period in 2020. The largest increase in exports was seen in those to the US, the value of which grew by €1.6 billion, or 13%. This was primarily driven by wine, spirits and liqueurs, and chocolate and confectionary. Additionally, the January to July period saw the value of exports increase significantly to Switzerland (up €450 million); Norway (up €352 million); South Korea (up €328 million); and Israel (up €257 million). Continuing the trend observed throughout 2021, the biggest decline in agri-food exports was seen in those to the UK, down by €411 million.
There were “substantial falls” in exports of wheat (down €1.3 billion) and infant food (down €718 million) from January to July, with more minor but notable reductions also recorded for exports of butter (down €163 million); vegetables (down €161 million); and milk powders and whey (down €100 million). The biggest increases in the value of imports were seen in soya beans (up €929 million). Sizeable increases were also seen in imports from Australia (up €456 million); India (up €340 million); Serbia (up €248 million); and Argentina (up €189 million). The overall decline in agri-food imports was mainly caused by a sharp fall in imports from the UK, down €2.4 billion or 29% compared to the first seven months of 2020.