US hits record agricultural trade with China in 2022
Export value up 14.5%
21 February 2023
1 minute read
By: According to a recently-published USDA Foreign Agricultural Service GAIN report, the total value of all US agricultural and related products exported to the People’s Republic of China (PRC) reached a record $40.9 billion in 2022, an increase of 14.5% compared to the previous year.
The PRC was again the largest market for US agricultural and related exports. The export values reached in 2022 come after significant effort to rebuild the market for US agriculture since 2018 when exports were $13.2 billion.
Products in the “bulk” category like soybeans and corn dominate the percentage share of US agricultural exports though “consumer-oriented” products like beef, pork, poultry, dairy, and tree nuts play an increasingly important role.
Top-five US export categories to the PRC in 2022 included soybeans ($17.9 billion), corn ($5.3 billion), cotton ($2.9 billion), beef and beef products ($2.2 billion), and coarse grains ($1.8 billion). In 2022, the US imported $9.5 billion in agricultural and related products from the PRC, a 9.5% increase from 2021.
