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Shining Light on Farm & Food Policy for 20 Years.
Wednesday, December 18, 2024
The Agriculture Department projects that the U.S. agricultural trade deficit will widen this fiscal year to $45.5 billion, an increase on the previous estimate as imports grow faster than expected.
USDA on Wednesday increased its forecast for agricultural imports for fiscal 2024, while projected ag exports remain unchanged at $170.5 billion, boosting the estimated U.S. ag trade deficit to $32 billion.
The U.S. agricultural trade surplus was $812.6 million in August, the highest monthly surplus for 2019 since February’s mark of $929 million, according to data compiled by USDA's Economic Research Service. In three of the past five months, the U.S. has registered a trade deficit.
