By Jamie Martin
U.S. agricultural exports contributed far more than farm revenue in 2024, generating billions of dollars in additional economic activity across the country.
According to the USDA Economic Research Service, agricultural exports valued at $177.2 billion supported an additional $192 billion in domestic economic activity, resulting in $369.2 billion in total U.S. economic output.
The agency's Agricultural Trade Multipliers analysis found that every $1 of agricultural exports supported approximately $2.08 in total economic activity through transportation, storage, handling, packaging, marketing and financial services.
Bulk commodities such as grain, soybeans, cotton and unprocessed tobacco accounted for $56.4 billion in exports and generated an additional $51.5 billion in economic activity.
Higher-value nonbulk products, including soybean meal, ethanol, meats, almonds, fruits and vegetables, produced an even larger impact. Those exports totaled $120.8 billion and supported an additional $140.5 billion in domestic economic activity.
The USDA also estimates agricultural exports supported 1.04 million U.S. jobs in 2024, highlighting the importance of export markets not only to farmers, but also to transportation, processing and service industries throughout the economy.
Photo Credit: USDA
Categories: National