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Most Valuable US Food Export Is Corn

Japan & Mexico Leading Countries for American Corn Imports

© Daniel Workman

Jul 26, 2008
American corn is a top grain export worldwide, xandert@cableone.net (morguefile 147860)
The United States exported US$11.2 billion worth of corn in 2007, up 36.2% from 2006 on strong demand from 60 countries around the globe.

American exports of corn – a grain that is often incorrectly called a vegetable – are growing almost 3 times faster than the overall average percentage increase for all American exports.

The rise in corn exports continues despite the fact that maize is proving to be a viable alternative energy source for crude oil, a commodity on which the U.S. economy has become over-dependent.

The analysis below lists the countries that imported the most corn from the U.S. in 2007.

Top 20 Countries for US Corn Exports

The following countries accounted for 84% of the US$11.2 billion in American corn exports last year.

  1. Japan … US$2.6 billion (23.6% of total US corn exports)
  2. Mexico … $2.1 billion (18.7%)
  3. South Korea … $830 million (7.4%)
  4. Taiwan … $793.1 million (7.1%)
  5. Egypt … $662.8 million (5.9%)
  6. Colombia … $557.7 million ( 5%)
  7. Canada … $494.8 million (4.4%)
  8. Israel … $169 million (1.5%)
  9. Morocco … $156.2 million (1.4%)
  10. Turkey … $154.8 million (1.4%)
  11. Saudi Arabia … $147.9 million (1.3%)
  12. Chile … $94.9 million (0.8%)
  13. Venezuela … $91.3 million (0.8%)
  14. Ecuador … $91 million (0.8%)
  15. Indonesia … $88.8 million (0.8%)
  16. Peru … $70.9 million (0.6%)
  17. Panama … $62.2 million (0.6%)
  18. Malaysia … $59.9 million (0.5%)
  19. Spain … $54.3 million (0.5%)
  20. Ireland … $51.2 million (0.5%).

The only countries from the above list that decreased their imports of American corn in 2007 were Spain (down 13.9%), Ireland (down 14.5%) and Indonesia (down 46.3%).

Fastest-Growing Markets for US Corn

Listed below are countries that imported more than $1 million in American corn during 2007 and that had double-digit increases from the prior year. Among the larger corn importers, Egypt and Mexico had the highest percentage gains in corn imports from 2006.

  1. Venezuela … US$91,311 (up 937% from 2006)
  2. Turkey … $154.8 million (up 461.3%)
  3. Malaysia … $59.9 million (up 174%)
  4. Philippines … $6.6 million (up 170.5%)
  5. Saudi Arabia … $147.9 million (up 134.2%)
  6. Russia … $11.1 million (up 130.6%)
  7. Ecuador … $91 million (up 81.1%)
  8. Panama … $62.2 million (up 78.1%)
  9. Lebanon … $40 million (up 78%)
  10. Canada … $494.8 million (up 72.8%)
  11. Peru … $70.9 million (up 59.6%)
  12. China … $12.9 million (up 56.2%)
  13. Vietnam … $11.7 million (up 50.7%)
  14. Australia … $6.8 million (up 48.5%)
  15. Colombia … $557.7 million (up 45.2%)
  16. Egypt … $662.8 million (up 39.2%)
  17. Mexico … $2.1 billion (up 36.2%)
  18. Israel … $169 million (up 35.7%)
  19. Japan … $2.6 billion (up 33.9%)
  20. Taiwan … $793.1 million (up 26.7%)
  21. Morocco … $156.2 million (up 23.8%)
  22. Chile … $94.9 million (up 16.8%)
  23. New Zealand … $2.2 million (up 16.5%)
  24. United Arab Emirates … $13.1 million (up 15.5%)
  25. South Korea … $830 million (up 14.3%)
  26. India … $1.1 million (up 14.3%).

Sources for this Article

This article presents independent calculations and insights based on data drawn from the U.S. Census Bureau – Foreign Trade Statistics.


The copyright of the article Most Valuable US Food Export Is Corn in Import/Export is owned by Daniel Workman. Permission to republish Most Valuable US Food Export Is Corn in print or online must be granted by the author in writing.


American corn is a top grain export worldwide, xandert@cableone.net (morguefile 147860)
       


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