Source: AgriLife Today
U.S. agricultural exports value totaled $135 billion in 2016 and experts anticipate future growth if production yields, trade agreements and borrowing power work in lockstep.
“Trade is very, very important,” Dr. Luis Ribera told attendees at the Texas Plant Protection Association Conference Dec. 5 in Bryan. “That $135 billion is huge.”
Ribera said U.S. agricultural imports were valued at $115 billion in 2016.
“As you can see, both imports and exports generate positive economic impacts,” he said. “Overall, when you look at what we export, we are really good at producing corn and cotton as well as several other commodities. The winners are consumers. We have a year-round supply of everything you can think of, and we can get it from the around the world even if it’s not in season.”
Ribera said trade agreements play a pivotal role in being the driving force of both import and export activities. When comparing North American Free Trade Agreement from 1994 to 2016, there was a 192 percent increase in total U.S. agricultural exports. Mexico plays a large role in the U.S. export market.
Learn more about the importance of agricultural trade on the Texas and U.S. economies
https://agrilifeextension.tamu.edu/solutions/importance-of-ag-trade/
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