U.S. agricultural exports totaled $140.5 billion in fiscal year (FY) 2017, climbing nearly $10.9 billion from the previous year to the third-highest level on record, U.S. Secretary of Agriculture Sonny Perdue announced yesterday.
The U.S. agricultural sector once again posted an annual trade surplus, which reached $21.3 billion, up almost 30 percent from last year’s $16.6 billion.
“U.S. agriculture depends on trade. It is great to see an increase in exports, and we hope to open additional markets to build on this success,” Perdue said. “I’m a grow-it-and-sell-it kind of guy. If American agricultural producers keep growing it, USDA will keep helping to sell it around the world.”
China finished the fiscal year as the United States’ largest export customer, with shipments valued at $22 billion, followed closely by Canada at $20.4 billion.
U.S. agricultural exports to Mexico reached $18.6 billion, a six-percent gain from last year, while exports to Japan grew 12 percent to $11.8 billion.
Rounding out the top 10 markets were the European Union at $11.6 billion, South Korea at $6.9 billion, Hong Kong at $4 billion, Taiwan at $3.4 billion, Indonesia at $3 billion and the Philippines at $2.6 billion.
U.S. bulk commodity exports set a volume record at 159 million metric tons, up 11 percent from FY 2016, while their value rose 16 percent to $51.4 billion.
The surge was led by soybean exports, which reached a record 60 million metric tons valued at $24 billion. Exports of corn, wheat and cotton also grew, with the value of cotton exports climbing 70 percent to $5.9 billion, wheat exports up 21 percent to $6.2 billion and corn exports up six percent to $9.7 billion.
A number of other products also saw significant export increases. U.S. dairy exports grew 17 percent to $5.3 billion, beef exports were up 16 percent to $7.1 billion and pork exports rose 14 percent to $6.4 billion.
Horticultural product exports increased three percent to nearly $33.9 billion. They were largely driven by an eight percent increase in exports of tree nuts, which reached $8.1 billion, the second-highest total on record.
Processed food and beverage exports rose two percent to $39.2 billion.
Exports are responsible for 20 percent of U.S. farm income and for driving rural economic activity and supporting more than one million American jobs both on and off the farm.
USDA continues to work to boost export opportunities for U.S. agricultural products by opening new markets, pursuing new trade agreements, enforcing existing agreements and breaking down barriers to trade.
Complete FY 2017 (Oct. 2016-Sept. 2017) agricultural export data are available from the Global Agricultural Trade System database.