Andalusia consolidates its global leadership, accounting for nearly three out of every four euros of Spain’s olive oil sales and €1 billion more than its previous record for this period, set in 2022.
Andalusia has achieved a historic milestone in olive oil exports between January and October 2024, surpassing €3.8 billion in “liquid gold” sales for the first time. Specifically, the region generated €3.879 billion in the first ten months of last year, marking a 46% growth compared to the same period in 2023. This figure exceeds the total exports for all of 2023 within just ten months.
According to data from Andalucía TRADE, the region exported €1 billion more in olive oil during the first ten months of 2024 than its previous record for the same period, set in 2022 (€2.819 billion). As a result, Andalusia strengthens its position as the global leader in olive oil sales, accounting for 69% of Spain’s total exports, equivalent to nearly three out of four euros of Spanish olive oil sold worldwide. Furthermore, olive oil remains the flagship product of Andalusia’s agri-food sector, contributing a positive balance of €2.869 billion to the region’s trade surplus, as exports of olive oil outpace imports by a factor of 3.8.
Additionally, 63% of Andalusian olive oil exports in the first ten months of 2024 were extra virgin olive oil, reflecting the industry’s commitment to promoting the highest-quality product internationally.
A Pillar of ‘Marca Andalucía’ Prestige
Olive oil is one of the products most closely associated with the prestige of the “Marca Andalucía” brand globally and a key indicator of the strength of the region’s agri-food industry. This strategic sector achieved another record in the first ten months of last year, with food and beverage sales reaching €13.009 billion, thanks to a year-on-year growth of 15.5%.
The growth is driven by the region’s exporting companies, which increased by 3% during this period to 476, 59% of which (280 companies) are regular exporters entities that have been consistently exporting for over four years accounting for 98% of total sales.
Seville Leads, Almería Shows the Greatest Growth
From January to October 2024, all eight Andalusian provinces contributed to the international olive oil business, with double-digit growth across the board compared to the same period in 2023.
Seville leads exports with €1.981 billion, representing 51% of Andalusian sales, experiencing a 52% increase. Córdoba follows with €676 million (17.4% of the total) and a 22.6% rise, while Málaga reached €593 million (15.3%), a 50% growth.
Jaén ranks fourth with €293 million (7.5% of the total), marking a 73% increase—the second-highest provincial growth. Granada follows with €228 million (5.9%), up 36%. Cádiz (€68 million, +36%), Huelva (€26.92 million, +26.5%), and Almería (€13 million, +187%) also saw substantial increases, with Almería tripling its export figures during this period.
Global Expansion Across Continents
Andalusian olive oil exports are highly diversified, with countries from four continents among its top ten destinations. Sales grew in 19 of its top 20 markets, with 15 markets experiencing over 30% growth. North American and Asian markets were particularly notable for their contribution to Andalusia’s global market expansion.
The United States leads international markets with €735 million in sales (19% of the total), reflecting a 66% year-on-year increase. Mexico ranks seventh with €132 million (3.4%) and a 61% rise.
In Asia, China saw a 136% growth in exports, doubling to €104 million (2.7%). Meanwhile, in Oceania, Australia increased its purchases by 140% to €160 million (4.1%), ranking sixth.
Europe remains the primary destination, accounting for 56% of total exports. Italy is the second-largest market with €660 million (17% of the total), up 27.5%. France ranks third with €422 million (10.9%), up 41%, followed by Portugal with €367 million (9.5%), up 11%. The UK (€171 million, +35%) and Germany (€123 million, +42%) also saw significant increases, while the Netherlands (€90 million, +65%) completes the top ten.
Andalucía TRADE and Olive Oil Promotion
In 2024, Andalucía TRADE supported the internationalization of 274 olive oil companies through 237 initiatives, 67 of which were exclusively dedicated to the sector. Highlights included technical workshops on post-Brexit challenges for the olive oil sector, attended by 28 companies, and a reverse buyer mission at the “World Olive Oil Exhibition” in Córdoba.
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