EXPORTS, IMPORTS, and TRADE BALANCE

KEY TRENDS

• Based on data compiled from the Department of Commerce, the United States shifted from a near zero trade deficit in agricultural products in 2004 to a $4.4 billion deficit in 2005 as import growth overwhelmed a modest rise in exports. Although also showing a sharp decline in the U.S. trade balance in agriculture, data compiled by USDA still registered a trade surplus of $4.7 billion for fiscal year 2005.
  
  
• U.S. imports of agricultural products increased 9 percent to $73.1 billion, largely due to much higher U.S. imports of coffee; beef and live cattle; fish; distilled spirits and beer; and fresh fruits and vegetables.
  
  
• U.S. imports of live cattle from Canada resumed in July 2005 when the U.S. Ninth District Court of Appeals lifted the preliminary injunction that had blocked U.S. imports of Canadian cattle since 2004 because of the threat of the BSE cattle disease.
  
  
• Despite a $1.6 billion drop in U.S. grain exports, U.S. exports of agricultural products increased 3 percent to $68.7 billion.

TRADE SHIFTS in 2005 from 2004

• U.S. trade deficit: Increased $4.2 billion (4,071 percent) to $4.4 billion
• U.S. exports: Increased $1.8 billion (3 percent) to $68.7 billion
• U.S. imports: Increased $6.0 billion (9 percent) to $73.1 billion
  
  

LINKS

USITC PUBLICATIONS
332 Investigations

• Conditions of Competition for Milk Protein Products in the U.S. Market

International Economic Review

• Mexican Farmers Against U.S. Imports: An Update

Working Papers

• Modeling U.S.-Based Soy Markets With Directed Acyclic Graphs and Times Series Econometrics: Evaluating the U.S. Market Impacts of High Soy Meal Prices

OTHER GOVERNMENT RESOURCES
U.S. Department of Agriculture, Economic Research Service

• Cattle Briefing Room
• Cotton and Wool Outlook Report
• Soybean and Oilcrops Briefing Room

U.S. Department of Agriculture, Foreign Agricultural Service

• Oilseeds Group

SECTOR SHIFTS

| Agricultural Products | Forest Products | Chemicals and Related Products |
| Energy and Related Products | Textiles, Apparel, and Footwear |
| Minerals and Metals | Machinery | Transportation Equipment |
| Electronic Products | Miscellaneous Manufactures |

COUNTRY SHIFTS