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

Agriculture exports totaled $140.5 billion in fiscal year 2017, climbing nearly $10.9 billion from the previous year to the third-highest level on record.  The Department of Ag announced the findings Thursday.  The American agricultural sector once again posted an annual trade surplus.

The trade surplus reached $21.3 billion, up almost 30% from last year’s $16.6 billion.  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 6% gain from last year, while exports to Japan grew 12%, to $11.8 billion.

USDA says exports are responsible for 20% of U.S. farm income, also driving rural economic activity and supporting more than one million American jobs both on and off the farm.

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