No production model change

The trade balance of agri-food products was in surplus in three of the last four years (2020, 2021 and 2023), a positive development, but not sufficient to change the sign from negative to positive in the overall trade balance.

This is not the only problem, as the trade surplus of agri-food products in recent years is partly thanks to current factors such as the increase in the price of olive oil due to reduced production in Spain. 

Figures for the first quarter of 2024 already show a slowdown in the growth rate of food and livestock exports, to 5% compared to 15.7% in January-March 2023.

The course of exports in recent years reflects the country's production model, which ultimately has not changed as much as it should have. This is because, as the Center for Planning and Economic Research (KEPE) notes in its analysis, foreign direct investments may have...