Exports of U.S. agricultural goods, including farm and food products, played a significant role in boosting economic activity both within and beyond the agricultural sector in 2023. These exports not only supported domestic industries such as transportation, packaging, and financial services but also created employment opportunities throughout the supply chain. According to the Economic Research Service (ERS) of the U.S. Department of Agriculture, the economic impact of these exports was measured using a multiplier model that accounts for the ripple effects across various sectors. In 2023, the total value of U.S. agricultural exports, including both raw commodities and processed foods, amounted to $175.5 billion. This figure led to an additional $186.9 billion in economic activity. Bulk commodities like soybeans and corn, valued at $74.2 billion, contributed an extra $66.2 billion to the economy. Meanwhile, nonbulk exports—such as soybean meal, ethanol, meats, almonds, and distilled spirits—required further processing and added significant value beyond the initial product. These exports, totaling $101.3 billion, generated an additional $120.7 billion in economic output. When combining the value of the exports themselves with the resulting economic activity, the total contribution to the U.S. economy reached $362.4 billion in 2023. On average, each dollar of agricultural exports generated approximately $2.06 in domestic economic activity. This data is derived from the ERS Agricultural Trade Multiplier report published in June 2025.
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Agricultural exports contributed $362.4 billion to U.S. economy in 2023
U.S. farm and food product exports create value and generate economic activity within and outside of the agricultural sector. In general, increased exports of agricultural products lead to higher demand for transportation services, packaging materials, or financial services across the supply chain, with additional employment services and economic activities required for exports. USDA’s Economic Research Service (ERS) estimates the additional value of economic activity generated annually by agricultural exports using an agricultural trade multiplier model. This model measures the employment and output effects of trade in farm and food products on the U.S. economy. In 2023, the value of U.S. agricultural exports, comprising commodities and food products, reached $175.5 billion. In turn, these exports generated an additional $186.9 billion in economic activity. Exports of bulk, unprocessed commodities such as soybeans and corn—valued at $74.2 billion—generated an additional $66.2 billion in economic activity in 2023. Nonbulk exports—a broad category of intermediate commodities and consumer-ready products such as soybean meal, ethanol, meats, almonds, and distilled spirits—require additional processing or special handling, adding substantial value beyond the value of the product. Nonbulk exports valued at $101.3 billion in 2023 generated an additional $120.7 billion for the U.S. economy. Including the value of exports themselves, U.S. agricultural exports generated a total economic output of $362.4 billion in 2023. Put another way, every $1 of U.S. agricultural product exported generated a total of $2.06 of domestic economic activity, on average. This chart is drawn from the ERS Agricultural Trade Multiplier, June 2025.