The U.S. exported $13.6 billion of ag goods in September against imports of $15.9 billion, which resulted in a deficit of nearly $2.3 billion. That was up from a deficit of $1.4 billion in August. September marked the end of the fiscal year. For FY 2022, the U.S. exported $196.4 billion of ag goods and imported $194.0 billion for a surplus of $2.4 billion. In August, USDA forecast FY 2022 ag imports at $196.0 billion and imports at $192.0 billion.
Get the Pro Farmer news and analysis that isn’t available online with a subscription to Pro Farmer. View subscription options. |
U.S. trade deficit hits three-month high...
The U.S. trade gap widened to a three-month high of $73.3 billion in September from a downwardly revised $65.7 billion deficit in August. It reflects an increase in the goods deficit of $6.6 billion to $92.7 billion and a decrease in the services surplus of $1.0 billion to $19.5 billion. Total imports rose 1.5% to $331.3 billion, prompted by purchases of semiconductors, civilian aircraft, telecommunications equipment, cell phones, pharmaceutical preparations, travel and transport services.
Imports fell for fuel, crude and other petroleum products. Meanwhile, exports declined 1.1% to $258 billion, led by lower sales of crude oil, nonmonetary gold and soybeans while shipments went up for telecommunications equipment, semiconductors and services, including travel and financial. The trade deficit increased with the EU and Mexico but narrowed with China.
