News

Overview of agricultural trade between China and the United States in 2023

China
United States
Market & Price Trends
Published Feb 27, 2024

Tridge summary

In 2023, the agricultural trade between China and the United States saw a significant decrease of 17.8%, amounting to US$42.98 billion. This includes a 1.6% decrease in exports to US$10.09 billion and a 21.8% decrease in imports to US$32.89 billion. Major exports like seafood, fruits, and feed saw a decline, as did imports of oilseeds, grains, and meat from the US. Notably, agricultural exports to the US accounted for 6.6% and 6.1% of the total agricultural exports in the same period last year. Key provinces like Guangdong, Shandong, Zhejiang, and Liaoning also experienced a decline in exports.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

1. In 2023, the overall agricultural trade volume between China and the United States will decline. ​ According to customs statistics, in 2023, the total trade volume of agricultural products between China and the United States was US$42.98 billion, down 17.8% from the same period last year, accounting for 12.9% of China’s total trade in agricultural products. Among them, exports were US$10.09 billion, down 1.6% from the same period last year. This is Exports of agricultural products to the United States fell for the first time since 2020, accounting for 10.2% of China's total agricultural exports; imports were US$32.89 billion, a decrease of 21.8% from the same period last year, accounting for 14.1% of China's total agricultural imports. The trade deficit was US$22.8 billion, a year-on-year decrease of 21.8%. It shrank by 28.3% during the same period. ​ 2. Exports of major agricultural products such as seafood and products, fruits and products, and feed to the United States ...
Source: Foodmate
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