The U.S. red meat industry added $4.24 billion to the U.S. balance of trade in 2010. According to the U.S. Meat Export Federation, record-high export values for beef of $4.08 billion and the second-highest total on record for pork of $4.78 billion fueled the trade surplus. Only U.S. lamb had an export deficit. Exports of 23.5 million pounds valued at $20.6 million compared with imports of 126.2 million pounds valued at $490 million.
USMEF president and CEO Philip Seng points out that the United States agriculture sector not only is feeding much of the world, but it's an important source of jobs and revenue for our country. The U.S. beef industry exported 2.35 billion pounds of product, an increase of 19% Beef exports exceeded imports by 605.1 million pounds. Similarly, U.S. pork exports increased 3% in volume to 4.23 billion versus 2009 totals. Those exports exceeded imports by 3.4 billion pounds.
Another way to measure the value of exports, Seng said, was the return on investment that it provides for the taxpayers' support of USMEF's efforts to support exports in 80 countries around the world. Of USMEF's $35.3 million budget, just over half came from USDA's Market Access Program and Foreign Market Development program, with the balance coming in the form of support from the beef, pork, corn and soybean industries and USMEF members.
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