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U.S. Farm Exports Hit Third Highest Level on Record

Wednesday, November 22, 2017

(North American Meat Institute)

U.S. agricultural exports totaled $140.5 billion in fiscal year (FY) 2017, an increase of $10.9 billion from the previous year, representing the third-highest level on record. The U.S. agricultural sector once again posted an annual trade surplus, which reached $21.3 billion, rising nearly 30 percent above 2016 levels. China was the largest export customer for U.S. agricultural products, 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, valued at $11.8 billion. The European Union, South Korea, Hong Kong, Taiwan, Indonesia and the Philippines rounded out the top 10 markets. The data revealed significant gains for several meat products exports. Beef exports, for example, rose 16 percent to $7.1 billion, and pork exports grew 14 percent to $6.4 billion.

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