Ukraine ranks amongst top 3 agricultural product exporters to EU – Eurostat
MOSCOW. May 15 (Interfax) – Ukraine ranked amongst the top three exporters of agricultural products to the European Union in 2024, Ukrainian media said, citing Eurostat.
The largest share of EU imports came from Brazil – 8.8% (17.1 billion euros), the United Kingdom – 8.5% (16.6 billion euros), Ukraine – 6.7% (13.1 billion euros), and the United States – 6.1% (12.0 billion euros). Other major suppliers of agricultural products to the EU are China – 5.1%, Norway – 4.7%, and Turkey – 4%.
The main buyer of EU agricultural products in 2024 was the United Kingdom – 23.0% (54.0 billion euros), followed by the United States (12.8%, 30.1 billion euros), Switzerland (5.4%, 12.6 billion euros) and China (5.3%, 12.3 billion euros).
In 2024, the EU’s agricultural exports totaled 234.1 billion euros, versus 194.9 billion euro imports, which led to a 39.2-billion surplus. Both exports and imports grew YoY, by 2.8% and 6.7%, respectively, Eurostat said.
Trade in agricultural products in the European Union grew 59% in 2014-2024, including a 58% increase in exports and a 60.2% increase in imports, which is equivalent to an average annual growth of 4.7% for exports and 4.8% for imports.
As reported, the EU lifted restrictions on importing Ukrainian products and scrapped customs tariffs in 2022. According to European media, new rules will take effect on June 6, 2025, and tariffs and quotas for Ukrainian exports will be reinstated. The EU is preparing a transitional system to limit amounts of duty-free agricultural exports. The restrictions will apply to grains, honey, eggs, sugar and other products.
Poland initiated the adjustments to protect European farmers. A number of EU members backed stricter terms for trade with Ukraine.
The Ukrainian government said that Ukraine would lose about 3.5 billion euros per year due to the cancellation of current rules.