LUBBOCK, TX – U.S. agricultural exports delivered more than just strong overseas sales in 2023—they generated a total of $362.4 billion in domestic economic activity, according to the USDA’s Economic Research Service. The trade multiplier model used by ERS shows that each dollar of ag exports generates $2.06 in total economic output within the U.S. economy.
Last year, agricultural exports totaled $175.5 billion. Bulk commodities like corn and soybeans made up $74.2 billion of that figure, generating an additional $66.2 billion in activity. Meanwhile, higher-value nonbulk exports—such as meats, ethanol, almonds, and spirits—totaled $101.3 billion and added $120.7 billion in economic activity.
These exports support jobs and services well beyond the farm gate, boosting demand for transportation, packaging, finance, and logistics across the ag supply chain. The data highlight how global demand for U.S. farm goods drives broader economic growth in rural and urban communities alike.