Overview
- U.S. and global trade are greatly affected by the growth and stability
of world markets.
- Changes in world population, economic growth,
and income are most likely to alter global food demand.
- Other
factors affecting agricultural trade are global supplies and prices,
changes in exchange rates, government support of agriculture,
and trade protection policies.
- With the productivity of U.S. agriculture growing faster than
domestic food and fiber demand, U.S. farmers and agricultural firms
rely heavily on export markets to sustain prices and revenues.
- Exports have exceeded imports by a large margin since 1973.
- Historically, U.S. imports have
increased steadily, as demand for diversification in food expands.
- U.S. consumers benefit from imports because imports expand food
variety, stabilize year-round supplies of fresh fruits and vegetables,
and temper increases in food prices.
ERS provides research and analysis on factors influencing U.S. agricultural exports and imports.
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