Asian and Western Hemisphere countries lead growth in U.S. agricultural exports
U.S. agricultural exports are forecast at a record $140 billion in U.S. fiscal year (FY) 2013 (October 1, 2012-September 30, 2013), up 3 percent from FY 2012 and up 39 percent since FY 2010. The Asia region, along with North American Free Trade Agreement (NAFTA) partner countries in the Western Hemisphere have been the leading sources of growing demand for U.S. agricultural products. In Asia, China?forecast as a $22.5-billion market for U.S. agricultural exports in FY 2013?has emerged as the leading global U.S. market based on expanding imports of U.S. soybeans, cotton, corn, wheat, tree nuts, and dairy products. Japan (with U.S. agricultural exports forecast at $12.6 billion in FY 2013), South Korea ($5.2 billion) and Taiwan ($3.3 billion) remain major East Asian markets, while Southeast Asia ($10.8 billion), including Indonesia, the Philippines, and Vietnam, are important growth markets.