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posted on 13 February 2018

Agricultural Exports Have Become Increasingly Important To The Bottom Line Of Farmers

from the Chicago Fed

-- this post authored by David B. Oppedahl

According to data from the U.S. Census Bureau, 8.9% of U.S. exports in 2016 were food and agricultural products, with 12.7% of those exports coming from the five states of the Seventh Federal Reserve District. Clearly, many farms and food manufacturers across the Midwest and elsewhere in the country have benefited from global trade; its benefits have also extended to Main Street businesses, such as grocery stores and restaurants, given that agricultural imports have tended to boost their sales.

At the conference, experts from academia, industry, policy institutions, and government discussed trends in agricultural trade - including changes in global demand for certain farm products - and their impact on the nation and the District. The key goals of the conference were to better understand the relationship between agricultural exports and farm income; assess the primary drivers of agricultural trade; examine policies that affect agricultural trade; and discuss the impacts of agricultural trade on the midwestern economy.

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