UK food export volumes have fallen by over 20% on the year between January and March 2024 as rising costs and the global economic slowdown impact trade.

The latest data from the Food and Drink Federation (FDF) found that this represents the lowest first-quarter volume in the past 15 years, except for the first quarter of 2021 which was hit by the global pandemic.

The total export value of food and drink for the first quarter of 2024 stood at £5.7bn, falling 5.3% when compared with the same period the previous year.

Currently, Ireland remains the UK’s largest export market, despite a fall of 3.5% to £1bn.

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As a result of the decline, the FDF is calling for improved support for exporters and a “supportive business environment” that allows firms to compete overseas without “costly and unnecessary regulatory burdens”.

At the same time, food import volumes have increase by over 7% on the year and import values increased by 0.4% to £14.8bn.

FDF director of industrial growth and sustainability Balwinder Dhoot said: “Trade in food and drink plays a critical role in the UK’s food supply resilience and the industry contributes billions to the UK economy. Our analysis is concerning, with food export volumes seeing a significant decline by over a fifth on the year.

“The next government must help unlock the full competitive trade potential of the UK’s largest manufacturing sector by delivering a trade strategy that builds business confidence and provides greater support for exporters to arrest this decline.”