According to the latest annual data from Eurostat, the US is the second-largest market for European food exports, surpassed only by the United Kingdom, with total exports amounting to €27.155 billion in 2023, accounting for 12% of the total export value.
Sales to the US decreased by 6% compared to 2022, primarily due to a 27% decline in exports of spirits and liquors.
The main exported products were:
- Wine (€4.699 billion, 17% of total sales)
- Spirits (€2.758 billion, 10%)
- Cereal-based products (€2.657 billion, 10%)
- Beer and cider (€1.985 billion, 7%)
- Dairy products (€1.888 billion, 7%)
Imports from the US to the EU
The United States exported agri-food products worth €11.734 billion to the EU in 2023, marking a 4.2% decrease compared to the previous year. The US ranked fourth among EU food import sources, behind Brazil, the United Kingdom, and Ukraine, with a 7% share.
Key imported products included:
- Fruits and nuts (€2.202 billion, 19%)
- Spirits (€862 million, 7%)
In 2023, the EU recorded a trade surplus of €15.421 billion in its agri-food trade with the US.
From January to October 2024, European agri-food exports to the US reached €25.097 billion, reflecting an 11% increase compared to the same period in 2023, according to Eurostat.
Meanwhile, imports from the US during the first ten months of 2024 fell by 1%, amounting to €9.618 billion.
US Market Outlook
According to the latest US Department of Agriculture (USDA) trade outlook, released in February, US agri-food exports to the EU are projected to reach $12.7 billion (€12.038 billion) in the 2025 fiscal year (October 2024–September 2025).
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This figure is €200 million higher than the previous projection from November, driven mainly by strong sales of distilled beverages and nuts.
Washington estimates that EU imports in the 2025 fiscal year will grow by 6% annually, reaching $37.3 billion (€35.355 billion).
The USDA attributes the increase in EU purchases in the last quarter of 2024 to higher demand for a wide range of processed products, particularly:
- Vegetables (such as tomato sauces)
- Grains
- Cocoa
- Cheese
Purchases of Italian and French cheeses, as well as Irish butter, remained strong during these months, and the US noted a higher volume of European wine imports, in contrast to a long-term trend of more moderate production across Europe, according to the US Department of Agriculture.
