USA farm exports up by 11% in FY 2022

USA farm exports up by 11% in FY 2022
 The United States is a very agri focussed country. The US is a very niche market for farm imports and exports. According to the USA import data reports, the overall agri exports from the USA were estimated at around $192 billion in 2022. These were mainly from Mexico, Canada, France and Italy.

The USA is a significant exporter of corn, wheat, poultry, meat and soymeal products. As per US import export data reports, around $196 billion worth of agricultural goods were exported from the USA. As compared to the financial year 2021, there was around 11% increase in the farm exports from the USA. It was estimated around $172 billion. 


The top farm exports from the USA were mainly soybeans, corn, dairy products, cotton, beef, tree nuts, wheat, pork, poultry meat, fresh fruits, bakery products and food products. The top destinations for US agricultural exports are China, Mexico and Canada. 


In 2022, China was the top importer of agricultural goods from the US. According to the US customs data, China accounted for over 19% of the USA's total agricultural exports. These were mainly soybeans, beef and Cotton. After China, Canada was responsible for over 16% of the USA's total agri exports followed by Mexico (14%) and Japan (8%) respectively.


In 2022, the USA did record cotton imports. There was around a 59% rise in the exports of cotton from the USA. According to the US export data reports, cotton exports totaled 9.5 billion dollars in 2022. Whereas, it was just 5.7 billion dollars in 2021. The USA's major cotton exports destinations were Indonesia, Mexico and India.


After cotton, USA's ethanol exports increased by 36%. It was $3.8 billion dollars in 2022 while 2.8 billion dollars in 2021. Canada, India and South Korea were the top importers of ethanol from the USA. 


Soybeans were the most exported agri goods from the United States in 2022. There was around 26% increase in the exports of soybeans from the USA and totaled to be $34 billion dollars. In 2021, it was around $27 billion dollars. 


Also, there was a sharp 17% increase in the exports of wheat from the USA in 2022. USA's total wheat exports were $8.9 billion in 2022 whereas it was $7.2 billion in 2021. Mexico, Philippines and China were the top 3 destinations for USA's wheat exports.  


Whereas, for corn which is the second most exported agri product from the USA, no increase is reported. The USA's corn exports were around $18.6 billion in 2022. The major buyers of corn from the USA were Canada, Argentina, Chile, Mexico and Brazil. 

Also, there was an 11% increase in the beef products exports from the USA. In 2022, the US accounted for over $11.7 billion worth of beef exports. Whereas, there was a slight 1% increase in the exports of tree nuts to the USA. On the other hand, there was a significant decrease in the exports of Fresh fruits (-8%) and food preparations (-3%) during the fiscal year 2022. 


This year US trade forecasts reports suggest that this year’s farm exports could reach only $181 billion dollars by the end of 2023. The USA’s agri business owners could trace opportunities through Global import export data provider reports of over 200+ countries. Exim Trade Data is a prominent market intelligence company offering useful trade information about buyers and importers from the international market.

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