Trade Exports, Imports Lower in April 2005. Deficit Reaches $35 Million

The value of agricultural trade was lower in April than in March 2005. However, the drop in exports was about twice the drop in imports, leaving an agricultural trade deficit of $35 million for April, according to USDA Economic Research Service's latest trade update.

The United States exported $5.035 billion in agricultural products, while importing $5.07 billion.

Year-to-date, U.S. agricultural exports are down 4% from the same period in 2004, imports are up 10%, and the trade balance is about half the 2004 level.

The value of poultry and products increased 16% year-to-date with more than half the value going to Latin America, Canada, and Mexico. The volume of soybeans exported was lower overall, although exports to China and Taiwan (who account for nearly half the volume) were higher.

Roughly one-third of U.S. imports come from Canada and Mexico, while one-fourth of our imports originate in the European Union.