Page 6 - Export or Bust eBook

Deputy Agriculture Secretary Steve Censky recently tried to quantify the significance of exports in the
agricultural economy.
“Twenty percent of farmers’ income is from trade,” he said, and each billion dollars in annual
U.S. farm exports (about $140 billion in 2017) supports 8,000 American jobs, he said.
The growth, however, has slowed recently. U.S. farm export tallies have leveled off at around $140
billion in recent years, and with uncertainty over a potential $150 billion in tariffs being placed by
China, the North American Free Trade Agreement being renegotiated and other potential trade conflicts,
there’s a lot of marketplace uncertainty.
USDA economists project the 2018 total to come in slightly below recent levels at $139.5 billion.
Projections for U.S. agricultural exports in fiscal 2018 were lowered $500 million from the November
forecast, and $1 billion below the previous year's exports
The U.S. agricultural trade balance is expected to narrow slightly, as well. The U.S. agricultural trade
surplus is forecast at $21 billion in FY 2018, just below the $21.3 billion in FY 2017.

4 www.Agri-Pulse.com