Agriculture Secretary Mike Johanns announced record
Building on momentum from 2006, export gains in 2007 are expected to be broad based. Fresh and processed fruit, vegetables and tree nuts account for about 40% of the horticultural export growth in 2007, with gains spread across many products. Foreign demand for corn remains strong with the amount used for ethanol production continuing to grow. Reduced South American shipments and rising foreign demand led by
Trade agreements such as the North American Free Trade Agreement have had a huge impact on
Imports for fiscal year 2007 are forecast at $68.5 billion, up $4 billion from the 2006 estimate of $64.5 billion. This makes for a $3.5 billion trade surplus for both 2006 and 2007. The largest import gains are forecast for fresh fruits, vegetables and wines.