Agricultural Exports Contribute Billions to U.S. Economy

U.S. agricultural exports support economic activity both within agriculture and across the broader economy. As farm and food products enter export channels, they generate demand for services such as transportation, storage, handling, packaging, marketing, and financial services to move goods from producers to the ports.

USDA’s Economic Research Service (ERS) captures these linkages through the Agricultural Trade Multipliers, which estimate how agricultural exports support U.S. economic output and jobs. In 2024, the value of U.S. agricultural exports, including biodiesel, totaled $177.2 billion alone.

These exports supported an additional $192 billion in economic activity, resulting in $369.2 billion in total U.S. economic output. Bulk, unprocessed commodities, such as grain, soybeans, cotton, and raw (unprocessed) tobacco, were valued at $56.4 billion in export value and supported an additional $51.5 billion in domestic economic activity.

Non-bulk exports -- products that undergo additional processing or require specialized handling, such as soybean meal, ethanol, meats, almonds, fruits, and vegetables -- added substantial value beyond their export prices. In 2024, non-bulk agricultural exports totaling $120.8 billion supported an additional $140.5 billion in domestic economic activity.

Overall, each $1 of U.S. agricultural exports supported $2.08 in total U.S. economic activity in 2024.

EDITOR’S TAKE:

Although we often refer to the importance of ag exports to the income of farmers/ranchers, sometimes it is a great reminder to actually see the numbers. This article puts into perspective not only the direct impact to ag sales but extends the picture to the influence on other portions of our overall U.S. economy. As you can see, the aggregate calculation is enormous. Locating and developing new markets will only help to grow these numbers in the future.

Putting farmers/ranchers at the very top of your customer prospect list is a great first step towards penetrating this robust truck market. Putting your inventory on AgTruckTrader.com® is a good second step. Complete your progress by making sure you’re familiar with all the other programs/tools CAD provides for you to finalize the sale. And don’t forget to always ask that very important question when a customer walks into your showroom – “Are you a farmer or rancher?”