By Jamie Martin
In 2024, the U.S. agricultural trade deficit widened as imports exceeded exports by $37 billion. This marked the third consecutive year of a trade gap in agricultural products. While exports increased by 1% to $176 billion, imports grew faster, rising 9% to $212 billion.
The U.S. saw growth in some agricultural exports. Corn exports surged 37%, while wheat and soybeans increased by 22% and 7%, respectively. Beef and pork exports also performed well, with values rising 5% and 6%, reaching $10.45 billion and $8.63 billion, respectively. However, wheat exports declined by 2%, animal feed dropped 10%, and soybean exports fell by 12%.
According to the U.S. Meat Export Federation, pork exports hit a record high. "Lower priced U.S. commodities were cited as the reason for the growth," particularly in Japan and South Korea, where export volumes surged by 43% and 107%, respectively.
The U.S. traditionally runs a trade surplus in agriculture, but deficits are not necessarily negative. The country exports beef, corn, and soybeans while importing essential products like coffee, wine, and fresh vegetables.
For 2025, USDA projections suggest mixed trends. Livestock, corn, and sorghum exports are expected to increase, while wheat, soybean, and feed exports may decline. Imports are likely to grow further due to the strong U.S. economy. Trade policies, including tariffs, could impact future market trends.
Photo Credit: usda
Categories: National