U.S. Ag Trade Surplus Shrinks Under $1 Billion

July 5, 2013 02:51 AM
 

via a special arrangement with Informa Economics, Inc.

Monthly trade surplus now at smallest point since July 2007


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


The value of U.S. ag exports in May was at $10.353 billion against imports of $9.430 billion to result in the smallest monthly trade surplus since July 2007 when it was at $766 million, according to USDA data.

The value of monthly exports was the smallest since July 2012 and marked the second consecutive monthly of exports valued under $11 billion, a mark they have bested so far in FY 2013.


EXPORTS 1

While slipping below the $1 billion mark on a monthly basis, the accumulated trade surplus for FY 2013 is at $29.432 billion, ahead of the $23.448 billion pace seen at this point in FY 2012. The trade surplus for FY 2012 finished at a record level of $42.873 billion.

The value of U.S. ag imports has been above $9 billion for the past three months (March-May), the first time that has happened, according to USDA data.

IMPORTS 2



Comments: While U.S. agriculture maintains a trade surplus and will finish FY 2013 with a surplus, the rise in the value of imports reflects a steadily improving U.S. economy and also reflects a slow rise in the value of the U.S. dollar, making imports more cost effective and potentially limiting U.S. exports.


 

NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


 


 

 

 

 

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