The Department of Agriculture announced today that fiscal 2008 will be a record year for agricultural exports. USDA reports:
Trade agreements have a significant impact on our ability to sell America’s agricultural products in world markets. … Canada and Mexico, our two North American Free Trade Agreement (NAFTA) partners, currently buy 28 percent of the value of America’s agricultural exports – up from 20 percent purchased 15 years ago when trade began under NAFTA. … While agricultural imports in two-way trade with the United States will also increase – to a record $78.5 billion forecast by USDA – the $108.5 billion in export sales by American farmers and ranchers will net a positive agricultural trade surplus of $30 billion for the United States.
