U.S. Agricultural Trade Showed Resiliency Through COVID-19 Pandemic

Adam Gerval

Amber Waves:The Economics of Food, Farming, Natural Resources, and Rural America, 2022, vol. 2022

Abstract: The overall value of U.S. agricultural trade increased in 2020 and 2021, despite global economic downturns from the Coronavirus (COVID-19) pandemic. In 2020, the United States exported $149.7 billion in agricultural exports, 6.1 percent more than the previous year and a 5-year high. The next year (2021), the value of U.S. agricultural exports rose an additional 18.9 percent to $177.0 billion. Soybean exports to China accounted for much of the increase in 2020, concentrated in the final 3 months of 2020 and offsetting declines in the value of many other U.S. agricultural exports in the early months of the pandemic.

Keywords: Agribusiness; Crop Production/Industries; Demand and Price Analysis; Farm Management; Financial Economics; Production Economics; Productivity Analysis (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersaw:329758

DOI: 10.22004/ag.econ.329758

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