The Department of Agriculture has released its quarterly forecast for U.S. agricultural exports. The report indicates exports are expected to reach a record $135.5 billion in fiscal year 2011. Compared to fiscal year 2010, export value is expected to grow 25% and volume by 10%. And the agricultural trade surplus is expected to reach a record $47.5 billion, far surpassing the previous record of $36 billion set in 2008.
Ag Secretary Tom Vilsack points out that agricultural exports continue to be a bright spot in these trying economic times. Vilsack says our export success is a testament to the productivity of our farmers and ranchers and underscores the quality and value of U.S. farm and food products.
According to the Secretary, these most recent numbers are more good news not just for farmers and ranchers and the businesses and communities that support them, but for our nation's economy as a whole. Every $1 billion in agricultural exports generates an additional $1.4 billion in economic activity and supports 8,000 jobs.
Powered by iNet Solutions Group ©2011 All Rights Reserved.