USA's Agricultural Exports Hit Record $195 B in FY22

 In the fiscal year 2022, the USA's agricultural exports boomed to 195 billion dollars. According to the US customs data, US farms and food products exports were estimated around 176 billion dollars in FY 2021. Agricultural exports from the USA increased by 11% in 2022.

The major agricultural produce from the USA were Soybeans, Corn, Bovine meat, Dairy products, Cotton, Tree Nuts and Wheat. As per US import export data, China, Mexico, South Korea, Taiwan and Philippines were the major markets by the US agricultural exports. USA’s Agricultural exports will continue to shine in 2023 also as suggested by Experts.

In this blog, you will get a detailed analysis report on US top agricultural exports for FY22.

Soybeans

Soybeans were the top agri goods exports from the United States in the financial year 2022. According to the US trade data reports, soybeans exports from the US amounted to over 32 billion dollars. US soybeans have great demand in the China, Mexico, European Union, Egypt and Japan markets. China was the leading buyer of US soybean with over 27% increase as compared to FY22. The total worth for China's soybean imports from the USA was around 17 billion dollars.

Corn

Corn was the second largest exported commodity from the USA in the fiscal year 2022. The total worth for the USA's corn exports were around 18 billion dollars. The major markets for corn exports from the USA were China, Mexico, Japan, Canada and Colombia.

In the financial year 2022, there was a significant increase from Canada with over 100% increase as compared to the last year. One of the major reasons behind this increase in imports by Canada was poor harvest due to drought in several regions. Other major markets for US corn exports were Honduras, Guatemala, Taiwan, Saudi Arabia, and South Korea.

Bovine Products

Bovine meat was the third largest exported product from the USA in FY 2022. According to the US export data records, bovine meat exports from the USA were around 11.6 billion dollars. There was an 11% increase in bovine meat exports from the USA. Last year, bovine meat exports from the USA were estimated around 10 billion dollars. China was the leading importer of Bovine meat from the USA worth 2 billion dollars in 2022. The major markets for USA's bovine meat exports were China, Mexico, Canada and Taiwan.

Dairy Products

Dairy Products were the fourth largest agricultural goods exports from the USA. Around 25% increase in the exports of Dairy Products from the USA in the fiscal year 2022. The total worth of dairy products from Bangladesh was around 9.5 billion dollars while it was 7.6 billion dollars in 2021. Mexico, China, Philippines, Japan and South Korea were the major buyers of dairy products imports from the USA.

Wheat 

Wheat was amongst the crucial export products from the USA. In the fiscal year 2022, wheat exports from the USA totaled 8.4 billion dollars. As compared to the financial year 2021, there was a 17% increase in exports of wheat from the USA. The major markets for US wheat exports were Mexico, Philippines, Japan, Nigeria, South Korea and China. There was a 23% increase in imports of wheat from Thailand and Mexico in 2022. The US wheat export market might see a positive trend for 2023.

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