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| Year | Exports, in million pounds | Imports, in million pounds |
|---|---|---|
| 2023 | 6,818 | 1,143 |
| 2022 | 6,345 | 1,344 |
| 2021 | 7,026 | 1,180 |
| 2020 | 7,279 | 904 |
| 2019 | 6,321 | 945 |
| 2018 | 5,877 | 1,042 |
| 2017 | 5,632 | 1,116 |
| 2016 | 5,239 | 1,091 |
| 2015 | 5,009 | 1,116 |
| 2014 | 5,092 | 1,011 |
| 2013 | 4,986 | 880 |
| 2012 | 5,379 | 802 |
| 2011 | 5,196 | 803 |
| 2010 | 4,223 | 859 |
| 2009 | 4,095 | 834 |
| 2008 | 4,667 | 832 |
| 2007 | 3,141 | 968 |
| 2006 | 2,995 | 990 |
- Region: United States
- Time period: 2006 to 2023
- Published: Feb 2024
Data Analysis and Insights
Pork Exports Peaked in 2020
The United States reached its highest pork export volume in 2020, with a total of 7279 million pounds. This peak signifies a notable increase in export activity compared to previous years, highlighting the demand for U.S. pork on the international market.2023 Marks a Recovery in Exports
2023 witnessed a recovery in pork exports, climbing to 6818 million pounds after a dip to 6345 million pounds in 2022. This rebound suggests a resurgence in international demand or improved market conditions for U.S. pork producers.Decline in Imports from 2022 to 2023
Pork imports into the United States decreased from 1344 million pounds in 2022 to 1143 million pounds in 2023, indicating a shift in either domestic pork supply dynamics or changes in import policies or preferences.Highest Import Volume Recorded in 2022
The highest volume of pork imports was recorded in 2022, with 1344 million pounds. This year stands out as an anomaly, suggesting a significant demand for foreign pork or possibly reduced domestic production.Steady Growth in Exports Over the Years
The data reveals a steady growth in pork exports from 2995 million pounds in 2006 to 6818 million pounds in 2023, demonstrating the increasing global influence and competitiveness of the U.S. pork industry.Imports Show a General Decline Since 2022
After reaching a peak in 2022, pork imports have shown a general decline, with 2023 imports dropping to 1143 million pounds. This trend could reflect a variety of factors including changes in consumer preferences, domestic production levels, or import regulations.2007 to 2020: A Period of Export Expansion
Between 2007 and 2020, U.S. pork exports saw a significant increase, from 3141 million pounds to 7279 million pounds. This period marks a sustained effort to expand U.S. pork's global market share.Imports Versus Exports
Comparing the volumes of imports and exports, it is evident that the United States is a net exporter of pork. For example, in 2023, the U.S. exported 6818 million pounds while importing only 1143 million pounds, showcasing the country's strong position in the global pork market.Frequently Asked Questions
When did the United States reach its peak pork export volume?
The United States reached its highest pork export volume in 2020, exporting a total of 7279 million pounds.
What trend can be observed in the volume of pork imports?
Pork imports into the United States decreased from 1344 million pounds in 2022 to 1143 million pounds in 2023.
Terms and Definitions
From a commercial standpoint, pork refers to the meat from domesticated swine, also known as pigs. It is a major source of protein consumed globally, prepared in a variety of ways including roasting, smoking, and grilling.
Imports involve bringing in goods or services into a country from abroad for commercial purposes. For example, pork imports denote the act of bringing pork into a country's borders from foreign countries.
Exports, on the other hand, involve sending goods or services from one country to another for sale. If the U.S. is sending out pork products to other countries, these are identified as pork exports.
Trade balance is a measure that compares the value of a country's exports to its imports. In the context of U.S. pork trades, a trade surplus would mean that the value of pork exports exceeds the value of imports, while a trade deficit would indicate the opposite.
Trade regulations refer to the laws established by a country or international agreement that govern the exchange of goods and services. In the case of pork, these regulations might control the quality, health standards, import quotas, and tariffs.
The commodities market is a marketplace where buyers and sellers trade raw products, such as food, grains, and meat, including pork. The price of these products is subject to fluctuations based on supply and demand factors.
Tariffs are taxes or duties that a country imposes on imported goods. A high tariff on pork imports, for instance, would increase the cost of imported pork, potentially influencing the volume of pork imports.
Quotas in trade are governmental restrictions on the quantity or value of certain goods that may be imported or exported during a specific period. Therefore, a quota on pork could limit the volume of pork that can be imported into or exported from the United States within a particular timeframe.
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The U.S. beef and veal trade is marked by dynamic annual fluctuations, with both import and export volumes varying significantly from year to year depending on factors like global demand, domestic production, and international trade policies.
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