Amber Waves cover, June 2008
Amber Waves: The Economics of Food, Farming, Natural Resources, and Rural America

June 2008

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Statistics Heading
 
Farm, Rural, and Natural Resources Indicators
empty cell

Annual percent change

item

2004

2005

2006

2007

2008

2004-05

2005-06
2006-07
2007-08

Cash receipts ($ billion)

237.3

240.7 239.3 285.4p 313.2f 1.4 -0.6 19.3 9.7

Crops

113.7 115.9 120.0 143.9p 174.6f
1.9
3.5
19.9
21.3

Livestock

123.6 124.9 119.3 141.4p 138.7f
1.1
-4.5
18.5
-1.9

Direct government payments ($ billion)

13.0 24.4 15.8 12.0p 13.4f
87.7
-35.2
-24.1
11.7

Gross cash income
($ billion)

267.4 281.3 272.5 316.2p 346.0f
5.2
-3.1
16.0
9.4

Net cash income
($ billion)

82.2 85.8 67.9 87.6p 96.6f
4.4
-20.9
29.0
10.3

Net value added
($ billion)

127.8 121.4 104.4 137.6p 144.1f
-5.0
-14.0
31.8
4.7

Farm equity ($ billion)

1,401.9 1,576.1 1,771.8 2,002.7p 2,286.2f
12.4
12.4
13.0
14.2

Farm debt-asset ratio

11.5 10.9 10.5 9.9p 9.1f
-5.2
-3.7
-5.7
-8.1

Farm household income ($/farm household)

81,596 81,599 77,654 84,159p 89,434f
0.0
-4.8
8.4
6.3

Farm household income relative to average U.S. household income (%)

134.8 128.8 116.7 na na
-4.5
-9.4
na
na

Nonmetro-metro difference in poverty rates (%points)1

na 2.3 3.4 na na
na
na
na
na

Cropland harvested (million acres)

312 314 304p na na
0.6
-3.2
na
na

USDA Conservation Program expenditures
($ billion)2

5.1 na na na na
na
na
na
na
Food and Fiber Sector Indicators
empty cell

Annual percent change

item

2004

2005

2006

2007
2008

2004-05

2005-06
2006-07
2007-08

U.S. gross domestic product ($ billion)

11,713 12,456

13,247

na na
6.3
6.4
na
na

Share of agriculture and related industries in GDP (%)1

4.8 4.5 4.3 na na
-6.3
-4.4
na
na

Share of agriculture in GDP (%)1

1.0 0.8 0.7 na na
-16.3
-12.5
na
na

Total agricultural imports ($ billion)2

52.7 57.7 64.0 70.0 76.5
9.5
10.9
9.4
9.3

Total agricultural exports ($ billion)2

62.4 62.5 68.7 81.9 101.0
0.2
9.9
19.2
23.3

Export share of the volume of U.S. agricultural production (%)1

22.8 21.5
23.0

23.8p na
-5.7
7.0
3.5
na

CPI for food
(1982-84=100)

186.2 190.7 195.3 202.9 213.3f
2.4
2.4
3.9
4.6

Share of U.S. disposable income spent on food (%)

9.7 9.8 9.9 na na
1.0
1.0
na
na

Share of total food expenditures for at-home consumption (%)

51.5 51.4 51.1 na na
-0.2
-0.6
na
na

Farm-to-retail price spread (1982-84=100)

232.1 239.2 246.2 248.3 na
3.1
2.9
0.9
na

Total USDA food and nutrition assistance spending ($ billion)2

46.2 50.9 53.1 54.3 na
10.2
4.3
2.3
na

f = Forecast. p = Preliminary. na = Not available. All dollar amounts are in current dollars.
1 The methodology for computing these measures has changed. These statistics are not comparable to previously published statistics. Sources and computation methodology are available at:   www.ers.usda.gov/AmberWaves/About/IndicatorsNotes.htm

2 Based on October-September fiscal years ending with year indicated.

Chart: Higher wheat costs boost prices for flour and bread

Chart: 2007/08 U.S. wheat production just below 10-year average

Chart: Japan top destination for U.S. wheat exports, 2006/07

 

For more information . . .

AO tables
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