The top 5 U.S. agricultural trading partners accounted for 64 percent of U.S. agricultural exports in fiscal year 2023

The top 5 markets for U.S. agricultural exports accounted for 64 percent of the total value of U.S. agricultural exports in fiscal year 2023. Exports to China were the largest share at $33.7 billion, followed by Mexico at $28.2 billion and Canada at $27.9 billion. The European Union trailed behind these numbers at $12.3 billion, slightly overtaking Japan at $12.2 billion. Since 2001, the nominal value of agricultural exports to these five U.S. trading partners increased annually by a compounded growth rate of 2.7 percent. From 2022 to 2023, the value of U.S. agricultural exports decreased to these markets, with the exception of Mexico.