U.S. Agricultural and Related Product Exports Declined during January to September 2023

The value of U.S. agricultural and related export products during the first three quarters of 2023 declined 12% to $138.7 billion compared with last year. At the same time, the U.S. import value of those commodities dropped 12% to $185.3 billion year-over-year. With higher imports than exports the net trade value was negative (see Table 1).

Table 1. U.S. Trade of Agricultural and Related Products (Billion USD, Calendar Year)

Figure 1 shows the values of U.S. exports and imports by commodity group. None of the commodity groups surpassed last year’s estimated values of...