U.S. agricultural export values peaked in fiscal year 2022 before declining in 2023

The value of U.S. agricultural exports, not adjusting for inflation, peaked in fiscal year 2022 before declining in 2023. Total exports were valued at $178.7 billion in 2023, a $17 billion decrease from 2022. Four categories typically accounted for about 90 percent of total agricultural exports. These categories include grains and feeds; oilseeds and products; animals (e.g. livestock and poultry), meats, and products; and horticultural products. Although the decrease in export value in 2023 came from a wide breadth of commodities, grains and animal exports were the source of much of the reduction—particularly from lower export values of corn, wheat, sorghum, and beef. Global commodity prices receding from the highs of 2022, were one of the main drivers of the broad decrease in export values.