Agricultural Exports in February 2018 Up Slightly

TOPICS

Trade

John Newton, Ph.D.

Chief Economist

Data recently released from USDA Foreign Agricultural Service indicates that U.S. farmers and ranchers exported $11.3 billion of agricultural products to 183 countries during February 2018, up three-tenths of a percent from the prior February, and the highest levels since 2015. The top markets for U.S. agricultural products in February were Canada ($1.6 billion), China ($1.5 billion), Mexico ($1.4 billion) and Japan ($949 million). These four markets represented nearly 50 percent of U.S. agricultural exports during February.

Cotton and livestock exports were up 18 percent and 12 percent, respectively, to $788 million and $1.5 billion. Dairy product exports were up 4 percent to $448 million, and poultry product exports were up 12 percent to $408 million. Oilseeds and grains saw lower export values in February, down 5 percent and 15 percent, respectively. The oilseed export value of $2.5 billion is the lowest trade value for February since 2009.

The U.S. imported $10.5 billion in agricultural products during February 2018, up 11 percent from the prior year. U.S imports were led by $5.5 billion in horticultural products and $1.8 billion in sugar and tropical products. Major importers to the U.S. include Mexico ($2.3 billion), Canada ($1.7 billion) and Chile ($402 million). One hundred and sixty-five countries supplied agricultural products to the U.S. in February 2018.