Amber Waves cover, November 2008
Amber Waves: The Economics of Food, Farming, Natural Resources, and Rural America

November 2008

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Statistics Heading
 
Farm, Rural, and Natural Resources Indicators
empty cell

Annual percent change

item

2004

2005

2006

2007

2008

2004-05

2005-06
2006-07
2007-08

Cash receipts ($ billion)

237.2

240.9 240.8 284.8 323.4f 1.6 0.0 18.3 13.6

Crops

113.6 116.0 122.6 147.0 179.9f
2.1
5.7
19.9
22.4

Livestock

123.6 124.9 118.2 137.9 143.5f
1.1
-5.4
16.7
4.1

Direct government payments ($ billion)

13.0 24.4 15.8 11.9 12.5f
87.7
-35.2
-24.7
5.0

Gross cash income
($ billion)

267.3 281.5 274.1 313.4 353.5f
5.3
-2.6
14.3
12.8

Net cash income
($ billion)

82.3 86.6 68.0 87.4 90.7f
5.2
-21.5
28.5
3.8

Net value added
($ billion)

127.6 123.6 103.1 132.5 134.9f
-3.1
-16.6
28.5
1.8

Farm equity ($ billion)

1,434.6 1,642.2 1,851.0 1,998.4 2,134.5f
14.5
12.7
8.0
6.8

Farm debt-asset ratio

11.3 10.5 9.6 9.6 9.2f
-7.1
-8.6
0.0
-4.2

Farm household income ($/farm household)

80,843 81,086 81,251 86,223 86,798f
0.3
0.2
6.1
0.7

Farm household income relative to average U.S. household income (%)

133.7 128.0 122.1 127.5 na
na
na
na
na

Nonmetro-metro difference in poverty rates (%points)1

na 2.3 3.4 5.5 na
na
na
na
na

Cropland harvested (million acres)

312 314 304p na na
0.6
-3.2
na
na

USDA Conservation Program expenditures
($ billion)2

4.1 4.3 4.3 4.4p 5.0f
4.9
0.0
2.3
13.6
Food and Fiber Sector Indicators
empty cell

Annual percent change

item

2004

2005

2006

2007
2008

2004-05

2005-06
2006-07
2007-08

U.S. gross domestic product ($ billion)

11,686 12,434

13,195

13,844 na
6.4
6.1
4.9
na

Share of agriculture and related industries in GDP (%)1

4.8 4.5 4.3 na na
-6.3
-4.4
na
na

Share of agriculture in GDP (%)1

1.0 0.8 0.7 na na
-16.3
-12.5
na
na

Total agricultural imports ($ billion)2

52.7 57.7 64.0 70.1 79.3
9.5
10.9
9.5
13.1

Total agricultural exports ($ billion)2

62.4 62.5 68.6 82.2 115.5
0.2
9.8
19.8
40.5

Export share of the volume of U.S. agricultural production (%)1

22.8 21.5
23.0

23.8p na
-5.7
7.0
3.5
na

CPI for food
(1982-84=100)

186.2 190.7 195.3 202.9 214.1
2.4
2.4
3.9
5.5

Share of U.S. disposable income spent on food (%)

9.7 9.8 9.8 9.8 na
1.0
0.0
0.0
na

Share of total food expenditures for at-home consumption (%)

51.4 51.4 51.1 51.2 na
0.0
-0.6
0.2
na

Farm-to-retail price spread (1982-84=100)

232.1 239.2 246.2 248.3 na
3.1
2.9
0.9
na

Total USDA food and nutrition assistance spending ($ billion)2

46.2 50.9 53.1 54.3 na
10.2
4.3
2.3
na

f = Forecast. p = Preliminary. na = Not available. All dollar amounts are in current dollars.
1 The methodology for computing these measures has changed. These statistics are not comparable to previously published statistics. Sources and computation methodology are available at:   www.ers.usda.gov/AmberWaves/About/IndicatorsNotes.htm

2 Based on October-September fiscal years ending with year indicated.

Chart: Line chart showing a rise in prices for soybeans, wheat, and corn

Chart: Line chart showing a rise in the value of U.S. agricultural exports

Chart: Line chart showing increased net farm income

 

For more information . . .

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