USDA has announced that U.S. farm exports in fiscal year 2011 are forecast to reach $126.5 billion - an all-time record high. The previous record was $114.9 billion set in 2008. Along with that, agriculture will continue to be one of the only major sectors of the American economy to enjoy a trade surplus, which is expected to be $41 billion in this fiscal year. U.S. Ag Secretary Tom Vilsack says the forecast demonstrates that demand for U.S. food and agriculture worldwide is stronger than ever.
Vilsack says Tuesday's report is particularly encouraging during these difficult economic times. With each $1 billion in exports supporting 8,000 jobs, he notes this forecast means ag exports alone are expected to support more than a million U.S. jobs in fiscal 2011.
Vilsack says it's the strong work ethic, deep values and incredible productivity in rural America that is helping U.S. agriculture lead the nation's recovery and achieve President Obama's goal of doubling U.S. exports over the next five years.
Powered by iNet Solutions Group ©2011 All Rights Reserved.