Despite substantial growth in U.S. soybean production and exports in the past 25 years, Brazilian soybean output now exceeds that of the United States
Soybeans and their products—soybean meal and soybean oil—are the most traded agricultural commodity, accounting for nearly 9 percent of the total value of global agricultural trade. Historically, the United States was the world’s largest soybean exporter, but in marketing year (MY) 2012/13, Brazil exported more soybeans than the United States. Since then, Brazil’s share of the global soybean trade has increased, and projections indicate the Brazilian share of global soybean trade could increase from 51.6 to 60.6 percent between MY 2021/22 and 2032/33. This study provides the latest statistics and analysis on U.S. and Brazilian soybean farms across regions and the export competitiveness of soybeans for these two countries. The report also discusses key distinctions between the two countries, which underlie their cost structures and may determine future trends in their competitiveness.
Global economy projected to recover slowly over the next decade, growing at a faster rate than the previous decade but not recovering to levels of growth prior to the Coronavirus (COVID-19) pandemic
The USDA, Economic Research Service International Macroeconomic Data Set provides historical and 10-year projected macroeconomic variables for 181 countries, as well as regional and income groupings, which account for more than 99 percent of the world economy. This report details the macroeconomic projections from 2023 to 2033 and provides economic analysis of the present state of the global economy as well as analysis of the influence of events over the past year to help users interpret the projection numbers. The study finds that the global economy is projected to recover slowly over the next decade, with real Gross Domestic Product (GDP) projected to grow at an average annual rate of 2.8 percent globally. Among the major factors contributing to the slow global GDP growth are rising inflation, tighter monetary policy, and the war in Ukraine.
Southeast Asia is one of the fastest growing foreign markets for U.S. agricultural products, with U.S. exports to the region increasing by $4.8 billion from 2012 to 2022
Southeast Asia is one of the world’s most dynamic and diverse economic regions and a promising overseas market for U.S. agricultural goods. The region is growing rapidly in terms of both Gross Domestic Product and population and is already the third-largest regional market for U.S. agricultural exports. U.S. agricultural exports to Southeast Asia increased from $9.4 to $14.2 billion from 2012 to 2022, and the U.S. share of Southeast Asia’s agricultural imports was steady at just over 11 percent. Leading U.S. exports are soybean products, wheat, cotton, skim milk powder, and distillers’ grains. This report analyzes trade data to determine historical trends, assess the potential of increasing the role of Southeast Asia as an export market for U.S. agricultural products, and determine which countries compete effectively with the United States in the Southeast Asia region.