Tuesday, February 15, 2011

Ag Exports break record

U.S. Farm Exports Hit Record-High in 2010

Washington--U.S. farm exports reached an all-time high of $115.8 billion in calendar year 2010, surpassing the previous high of $114.8 billion set in 2008. Both the value and volume of U.S. agricultural exports worldwide has increased.

“Today’s numbers indicate that the demand for U.S. food and agricultural products is soaring worldwide,” said Agriculture Secretary Tom Vilsack. “This is good news for all Americans in these trying economic times. Every $1 billion in agricultural exports supports 8,000 American jobs, which means agricultural exports supported nearly 1 million jobs in 2010.”

Export sales surged both in bulk commodities, which increased 19 percent to $47.2 billion, and for consumer-oriented agricultural products, which increased 15 percent to $45.4 billion.

For the first time in history, China is the top market for U.S. agricultural exports. China imported agricultural products valued at $17.5 billion from the U.S. in 2010. This accounts for 15.1 percent of total U.S. agricultural exports. Soybeans are the primary farm product China imports from the U.S. China relies on other nations for soybeans, cotton, vegetable oil and edible sugar but does not depend on international markets for major grains including rice, wheat and corn. Canada is now the No. 2 market for U.S. farm exports, valued at $16.9 billion in 2010.

The latest export data is available via the Global Agricultural Trade System.

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