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CY2018 Agriculture Exports up 1% to $139.6 billion

Mar. 25, 2019 - USDA - Foreign Agricultural Service (FAS) updated trade data reveals that in calendar year 2018 U.S. agriculture exports were up slightly from 2017. The United States exported $139.6 billion worth of farm goods last year, an increase of 1% over the $138.1 billion in CY2017. There was strong growth in worldwide corn exports, which were up 36.9% to $12.48 billion, as well as cotton, which increased by 12.5% to $6.57 billion. The increase is despite a sharp decline in soybean exports, which fell from $21.45 billion in 2017 to $17.1 billion in 2018, mostly on weaker demand in China. Notably, there was strong growth in several export markets such as Vietnam and South Korea. Vietnam imported an additional 58% in U.S. agricultural products, up from $2.5 billion in 2017 to $3.99 billion, a rise led by sharp increases in wheat, corn, cotton, and soybeans. South Korean imports rose by 21% from $6.86 billion in 2017 to $8.34 billion in 2018, with notable increases in corn, wheat, and soybeans.

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