US ag trade balance up 14% in fiscal 2013
Jan. 8, 2014
by Laura Lloyd
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WASHINGTON — The US Department of Agriculture reported a 14 percent larger agricultural trade surplus in fiscal 2013 (October-September), compared with fiscal 2012. The USDA said $37.09 billion more agricultural exports were shipped from the United States than were imported in fiscal 2013. Total agricultural exports represented $140.936 billion while imports totaled only $103.845 billion, the USDA said.
In fiscal 2014 to date, the trade balance also saw positive growth compared with the same period in the previous fiscal year. Comparing data from October and November 2013 — the first two months of fiscal 2014 — with the same two months in fiscal 2013, the USDA said the trade balance was $13.701 billion in the current fiscal year, up 12 percent from $12.181 billion.
A wide variety of goods and products comprise the USDA’s definition of agriculture, including live animals, meat and products of livestock, poultry and dairy; hides and skins but not leather products; animal fats and greases; food and feed grains and grain products, oilseeds and oilseed products; fruits, nuts, vegetables and their products; juices, wine and malt beverages; essential oils, planting seeds; raw cotton, wool and other fibers, unmanufactured tobacco, sugar and sugar products, coffee, cocoa, tea and products of these; rubber and allied products; stocks for nurseries and greenhouses, spices and natural drugs.