Renewable Energy Report: July 2017 Report
Agricultural exports are critical to the U.S. farm economy. China was the top value market for U.S. agricultural products in 2016. Overall, the value of 2016 U.S. agricultural exports to China was approximately 16 percent of 2016 U.S. total agricultural exports in value, according to a recent DIS analysis. This month’s report focuses on the U.S. corn exports to China while giving special attention to new Chinese agricultural trade and commodities policies.
The North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico, established in 1994, was aimed at reducing barriers to trade and investment among the three North American countries. Trade between the United States and these two countries has substantially increased since NAFTA implementation. In 2016, Canada was the second largest market for U.S. agricultural products with a value of $20.5 billion. The leading market destination in 2016 was China, with $21.4 billion worth of U.S. agricultural exports. In 2016, Mexico was the third largest value market for U.S. agricultural products. The 2016 value of U.S. agricultural exports to Mexico was up 0.8 percent to $17.9 billion from 2015.
