Global Growth, Macroeconomic Change, and U.S. Agricultural Trade
by Mark Gehlhar, Erik Dohlman, Nora Brooks, Alberto Jerardo
, and Thomas Vollrath
Economic Research Report No. (ERR-46) 44 pp, September 2007
After a decade of uneven export growth and rapidly growing imports, U.S. agriculture has begun to reassert its position in global trade markets. Rising exports and signs of moderating import demand are in marked contrast to previous trends. This report places recent changes in perspective by highlighting the role of two specific factors that heavily guide U.S. agricultural trade patterns: global growth and shifts in foreign economic activity that affect U.S. exports, and macroeconomic factors underlying the growth of U.S. imports.
Keywords: agricultural trade, trade balance, income growth, economic development, population, macroeconomics, exchange rates, current account, growth projections
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