USDA: Imports Increasing While Exports Drop

The latest Ag trade figures from October to April are out.  USDA Trade Economist, Cameron Daugherty, says the theme during that time period is exports are down, imports are up.  Exports of American Ag products so far total $81.2 billion, which is down 6.5% from the same time frame last year.  He notes imports are up by 2.6%, resulting in an overall trade surplice of almost $4 billion, which is down 65% from fiscal year 2018.

And Daugherty noted April was a unique month, in which we saw “a negative trade balance.”

With imports edging out exports by almost $1 billion, will the U.S. will still end the year with an overall positive trade balance?

“Absolutely,” said Daugherty.  “So we expect an $8 billion trade balance.”

But, Daugherty noted, that figure was closer to $11.5 billion in 2018.

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