Most Valuable US Food Export Is Corn
Japan & Mexico Leading Countries for American Corn Imports
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.
- Japan … US$2.6 billion (23.6% of total US corn exports)
- Mexico … $2.1 billion (18.7%)
- South Korea … $830 million (7.4%)
- Taiwan … $793.1 million (7.1%)
- Egypt … $662.8 million (5.9%)
- Colombia … $557.7 million ( 5%)
- Canada … $494.8 million (4.4%)
- Israel … $169 million (1.5%)
- Morocco … $156.2 million (1.4%)
- Turkey … $154.8 million (1.4%)
- Saudi Arabia … $147.9 million (1.3%)
- Chile … $94.9 million (0.8%)
- Venezuela … $91.3 million (0.8%)
- Ecuador … $91 million (0.8%)
- Indonesia … $88.8 million (0.8%)
- Peru … $70.9 million (0.6%)
- Panama … $62.2 million (0.6%)
- Malaysia … $59.9 million (0.5%)
- Spain … $54.3 million (0.5%)
- 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.
- Venezuela … US$91,311 (up 937% from 2006)
- Turkey … $154.8 million (up 461.3%)
- Malaysia … $59.9 million (up 174%)
- Philippines … $6.6 million (up 170.5%)
- Saudi Arabia … $147.9 million (up 134.2%)
- Russia … $11.1 million (up 130.6%)
- Ecuador … $91 million (up 81.1%)
- Panama … $62.2 million (up 78.1%)
- Lebanon … $40 million (up 78%)
- Canada … $494.8 million (up 72.8%)
- Peru … $70.9 million (up 59.6%)
- China … $12.9 million (up 56.2%)
- Vietnam … $11.7 million (up 50.7%)
- Australia … $6.8 million (up 48.5%)
- Colombia … $557.7 million (up 45.2%)
- Egypt … $662.8 million (up 39.2%)
- Mexico … $2.1 billion (up 36.2%)
- Israel … $169 million (up 35.7%)
- Japan … $2.6 billion (up 33.9%)
- Taiwan … $793.1 million (up 26.7%)
- Morocco … $156.2 million (up 23.8%)
- Chile … $94.9 million (up 16.8%)
- New Zealand … $2.2 million (up 16.5%)
- United Arab Emirates … $13.1 million (up 15.5%)
- South Korea … $830 million (up 14.3%)
- 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.
