The Billion Dollar Club

  |   Trade Spotlight



As one of the world’s top agricultural exporters, the United States relies on a vast global trading network. In 2023, U.S. agricultural exports reached 23 markets valued at least $1.0 billion. These markets account for 88 percent of total agricultural exports and are primarily located in North America, Central America, Europe, Asia, and Oceania. The top commodities for the 23 markets are: soybeans, corn, beef & beef products, tree nuts, pork & pork products, and dairy products. Maintaining and expanding market opportunities continue to support the livelihoods of millions of U.S. farmers and ranchers.

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U.S. soybean exports to Pakistan have resumed after Pakistan removed a 2-year functional ban. On February 18, 2025, Pakistan received its first U.S. soybean shipment of 65,000 tons, and U.S. exporters will soon ship approximately 200,000 more tons.
Trade Spotlight

The Role of BICO Classifications

Bulk, Intermediate, and Consumer-Oriented (BICO) goods are the primary classification for agricultural commodities. To better understand trends in agricultural trade, the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service (FAS) organizes thousands of Harmonized Tariff System codes related to agriculture into BICO groupings based on the level of processing and typical end-use.
U.S. 2024 calendar year agricultural exports totaled $176.0 billion, marking a 1-percent increase ($1.8 billion) from the previous year and securing the third-largest total recorded.