Agricultural exports and imports both declined last year in the U.S.
Ag exports for 2023 came in at $174.9 billion, which is down 11 percent from the previous year. Imports were down 2 percent at $194.9 billion, and that leaves an ag trade deficit of around $20 billion.
USDA economist Bart Kenner shares some high-value products that made export gains in 2023.
“Animal feeds and oil meal are up 6% from last year at $18 billion. Prepared and preserved vegetables were up 10% from last year at $5.4 billion. Fresh fruits were up 5% from last year at $4.3 billion. Vegetables and their products overall were up 6% from last year at $8.1 billion, and distilled spirits were up 8% at $2.2 billion.”
Kenner says total bulk commodity exports went down 23 percent last year.
