Editors' Pick: Charts of Note 2020
This chart gallery is a collection of some of the best Charts of Note from 2020. These charts were selected by ERS editors as those worthy of a second read because they provide context for the year’s headlines or share key insights from ERS research.
Thursday, December 31, 2020
Over the last quarter century, the United States has become one of the largest agricultural importers in the world. During this time, imports have grown significantly from $27 billion in 1994 to $128 billion in 2019. The role of the North American Free Trade Agreement (NAFTA) in 1994—superseded by the United States-Mexico-Canada Agreement (USMCA) in July 2020—has played a central role in this surge, with U.S. imports from the North American region increasing more than six-fold from $8.2 billion in 1994 to $52 billion in 2019. The volume of imports from all regions has risen across all commodities, but consumer-oriented products, such as fresh fruits and vegetables, beef products, and wine and beer products have led the increase. Even as overall imports have grown, imports from Europe, as well as South America and the Caribbean, have dipped, reflecting the decreasing share of berries and other fruits provided by these countries, as well as additional sources of alcoholic beverages imported from USMCA trading partners. These charts are drawn from the Economic Research Service product, U.S. Agricultural Trade at a Glance.
This Chart of Note was originally published on Monday, August 31, 2020.
Tuesday, December 22, 2020
The United States is the world’s second largest agricultural trader after the European Union. U.S. agricultural exports have grown significantly over the last quarter century, from $46.1 billion in 1994 to $136.7 billion in 2019. The elimination of agricultural trade barriers as a result of the 1994 North American Free Trade Agreement (NAFTA)—superseded by the United States-Mexico-Canada Agreement (USMCA) in July 2020—nearly quadrupled exports (by value) to Canada and Mexico. Coinciding with policy developments, rising household incomes and changing trade policies in developing East and Southeast Asia have driven export growth, especially for China, whose share of U.S. agricultural exports more than quadrupled from 3 percent during 1994-2000 to 14 percent during 2010-19. Meanwhile, there has been a sharp decline in the share going to Europe and high-income East Asia, particularly Japan. These charts are drawn from the Economic Research Service product, U.S. Agricultural Trade at a Glance.
This Chart of Note was originally published on Wednesday, July 29, 2020.