China
U.S. Trade with China in 2023
Export Market Rank
#1 Among U.S. Agricultural Export Markets
Total Export Value
$28.84 Billion
3-Year Average
$33.24 Billion
Compound Average Growth
1.8% (2014-2023)
Total Export Value 2014 - 2023
Export Value by Commodity 2023
Top 10 Exports to China in 2023
| Commodity | Total Value (USD) | Total Volume (Metric Tons) | 10-Year Average Value (USD) | 10-Year Growth |
|---|---|---|---|---|
| Soybeans | $15.06 Billion | 26.39 Million | $12.37 Billion | 4% |
| Corn | $1.63 Billion | 5.61 Million | $1.37 Billion | 1850% |
| Beef & Beef Products | $1.61 Billion | 189,373 | $582.92 Million | 593949% |
| Cotton | $1.55 Billion | 775,619 | $1.27 Billion | 40% |
| Pork & Pork Products | $1.24 Billion | 496,396 | $1.07 Billion | 162% |
| Coarse Grains (excl. corn) | $1.19 Billion | 3.87 Million | $1.21 Billion | -19% |
| Tree Nuts | $1.18 Billion | 222,808 | $546.82 Million | 518% |
| Poultry Meat & Prods. (excl. eggs) | $732.75 Million | 412,108 | $394.96 Million | 132% |
| Dairy Products | $607.3 Million | 423,023 | $563.03 Million | -13% |
| Other Feeds, Meals & Fodders | $563.66 Million | 575,282 | $393.68 Million | 33% |
Data and Analysis
Forecast soybean production for MY 24/25 is unchanged at 19.6 million metric tons (MMT) based on a planted area of 9.95 million hectares (Mha). Relatively low and declining soybean meal (SBM) prices since the beginning of MY 23/24 could encourage more SBM use in feed production.
Forecast MY 24/25 cotton production is 5.9 million metric tons (MMT), unchanged from the previous report and the estimate for MY 23/24. A marginally higher yield estimate of 2,014 kg/Ha offset a slightly lower planted area unchanged from the previous report at 2.93 million hectares (MHa) on lower cotton profits in regions outside Xinjiang in MY 23/24.
The People’s Republic of PRC (PRC) bio-based diesel (BBD) exports are expected to drop following the EU provisional antidumping duties of up to 36.4 percent on biodiesel and hydrogenation-derived renewable diesel (HDRD), though sustainable aviation fuel will provisionally be excluded from further duties.
Upcoming
All times in ET.
Oct 30
Nov 1
Trade Show
|
USDA Endorsed
China Fisheries and Seafood Expo
Qingdao, China
Nov 12
Nov 14
Trade Show
|
USDA Endorsed
Food and Hospitality China
Shanghai, China
Mar 17
Mar 19
2025
Trade Show
|
USDA Endorsed
Food Ingredients China
Shanghai, China
May 19
May 21
2025
Trade Show
|
USDA Endorsed
SIAL China
Shanghai, China
News and Features
Private exporters reported sales of 100,000 MT of soybeans for delivery to China during MY 2024/2025.
Private exporters reported sales of 132,000 MT of soybeans for delivery to China during MY 2024/2025.
Private exporters reported the following sales activity for MY 2024/2025: 126,000 MT of soybeans for delivery to China and 189,700 MT of soybeans for delivery to unknown destinations.