USDA: Agriculture a $992 Billion Economic Factor

Data by the USDA shows agriculture and agriculture-related industries contributed $992 billion in 2015.  That comes out to a 5.5% share of the U.S. GDP.

The output of America's farms contributed $136.7 billion of this sum, about one percent of GDP.  USDA says the overall contribution of the agriculture sector to GDP is larger than that figure because related sectors rely on agricultural inputs like food and materials used in textile production to contribute added value to the economy.  In 2015, farming's contribution to GDP fell for the second consecutive year after reaching a high point of $189.9 billion in 2013.

A major reason for the downward trend has been falling commodity prices, like corn and soybeans, which peaked around 2013 and have since declined by at least 30 percent. The food service category, eating and drinking places has expanded over a similar timeframe and may be a beneficiary of the lower commodity prices at the farm level.

If you have a story idea for the Washington Ag Network, call (509) 547-1618, or e-mail gvaagen@cherrycreekradio.com