Farm Progress is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Serving: United States
DFP-Phillips-Train-Grain-1540.jpg Delta Farm Press Staff

U.S. agricultural trade balance projected to decline in 2019

U.S. agricultural exports are projected to total $141.5 billion in 2019. Agricultural imports are expected to total $127 billion.

U.S. agricultural exports are projected to total $141.5 billion in fiscal year 2019, while agricultural imports are expected to total $127 billion, according to the latest outlook for U.S. agricultural trade by USDA’s Economic Research Service.

The $14.5 billion surplus projected for fiscal 2019 is the lowest since fiscal 2007, when the United States exported $12.2 billion more in agricultural goods and services than it imported.

Unlike overall U.S. trade in goods and services, U.S. trade in the agricultural sector consistently runs at a surplus.

While agricultural exports have increased in value since 2016, the value of imports has risen at a slightly faster rate, leading to a declining trade balance. This is further compounded in fiscal 2019 by significant declines in projected exports to China.

At the regional level, exports to East Asian countries are forecast to decline by $6.7 billion in fiscal 2019 — the result of an expected decrease of $7.3 billion in agricultural exports to China from the $16.3 billion total for fiscal 2018.

Source: USDA’s Economic Research Service

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish