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| Year | Exports, in million bushels |
|---|---|
| 2023 | 2,100 |
| 2022 | 1,661 |
| 2021 | 2,472 |
| 2020 | 2,747 |
| 2019 | 1,776 |
| 2018 | 2,065 |
| 2017 | 2,438 |
| 2016 | 2,294 |
| 2015 | 1,901 |
| 2014 | 1,731 |
| 2013 | 1,920 |
| 2012 | 730 |
| 2011 | 1,539 |
| 2010 | 1,831 |
| 2009 | 1,979 |
| 2008 | 1,849 |
| 2007 | 2,437 |
| 2006 | 2,125 |
| 2005 | 2,134 |
| 2004 | 1,818 |
| 2003 | 1,900 |
| 2002 | 1,588 |
| 2001 | 1,905 |
- Region: United States
- Time period: 2001 to 2023
- Published: Jan 2024
Data Analysis and Insights
Peak and Trough in Corn Exports
The highest level of corn exports was recorded in 2020 with 2,747 million bushels, showcasing a peak in American corn exportation. Conversely, the lowest export volume occurred in 2012, with just 730 million bushels, indicating a significant trough. These figures highlight the volatility and susceptibility of the corn export market to various factors, potentially including global demand fluctuations, weather conditions, and policy changes.Recent Recovery in Exports
After a decline to 1,661 million bushels in 2022, corn exports witnessed a substantial recovery in 2023, reaching 2,100 million bushels. This rebound suggests an improvement in international demand or competitiveness of American corn, marking a 26.4% increase from the previous year and indicating a positive trend in the agricultural export sector.Trend Analysis Over Decades
Over the last two decades, corn exports have shown significant variability, with notable peaks and troughs. The years 2010 to 2020 exhibited a more pronounced fluctuation in export volumes compared to the previous decade (2001 - 2010), which maintained relatively steadier export figures. This variability could reflect changes in global market dynamics, trade policies, and climatic conditions impacting crop yields.Impact of Exceptional Events
The year 2012 stands out as an anomaly with exports dropping to 730 million bushels, the lowest in the observed period. This dramatic decline could be attributed to exceptional events such as severe droughts or significant shifts in global trade policies, underlining the sensitivity of agricultural exports to external shocks.Consistency in Export Growth
Despite fluctuations, the overall trend from 2001 to 2023 suggests a growth in corn exports, moving from 1,905 million bushels to 2,100 million bushels. This growth indicates an increase in global demand for American corn and improvements in agricultural productivity and export capabilities over the two decades.Comparison of Decade Averages
Comparing averages of exports per decade, the 2010s demonstrated a higher average export volume compared to the 2000s, illustrating an upward trajectory in American corn exports over time. This comparison underscores the agricultural sector's adaptation to global market demands and advancements in farming technology and practices.Frequently Asked Questions
When was the highest level of corn exports recorded and how many bushels were exported?
The highest level of corn exports was recorded in 2020, with 2,747 million bushels exported.
What was the volume of corn exports in the year with the lowest export volume?
The lowest volume of corn exports occurred in 2012, with just 730 million bushels exported.
Terms and Definitions
Exports refer to any goods or commodities that are sold by a country to foreign markets. This is an important component of a country's economy, contributing to its Gross Domestic Product (GDP).
Gross Domestic Product is the total value of all goods and services produced by a country in a specific time period. It serves as a comprehensive measure of a nation's overall economic activity.
This term refers to the food given to animals (livestock) that are raised for commodities such as meat, milk, or eggs. Corn is a significant component of livestock feed, due to its nutritional value and abundant production.
A commodity market is a physical or virtual marketplace for buying, selling, and trading raw or primary products. Corn, being a primary agricultural product, is widely traded on these markets. The performance of such goods on the commodity market can influence the economy.
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