Agricultural trade balance reaches 7-month high
Agricultural trade was almost 0.8 billion dollars higher than the previous month as export values increased for the third consecutive month and imports declined.
U.S. agricultural export values in September totaled $10.7 billion while import values were $7.8 billion. The difference leads to a $2.9 billion trade balance for the month. The balance improved and reached its highest level since the balance was near $4.2 billion in February.
Figures recorded by the USDA Economic Research Service, using data summed from the Bureau of Census shows the September trade balance is almost $0.42 billion lower than the same month a year earlier when export values were higher and import numbers were lower than the most recent month on record.
Agricultural exports in 2013 total $99 billion, while imports are almost $79 billion, yielding a calendar year-to-date trade balance of $20.248 billion. The balance through September is $1.27 billion lower than 2012 figures.
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