World Grain - July 2017 - 22

COUNTRY FOCUS

Key Facts

Focus on the
United States
World's biggest grain producer and exporter
plays critical role in global markets
by Chris Lyddon

The United States is the world's biggest grain producer and
plays a central role in the global grain markets. It is the biggest
exporter and the biggest producer of ethanol by far and notable
for the enthusiastic adoption of genetically engineered crops.
According to the International Grains Council (IGC), total
projected U.S. grain production in 2017-18 will be 421 million
WRQQHVGRZQIURPPLOOLRQLQ7KH¿JXUHLVGRP
inated by the country's massive maize production, set to reach
357.7 million tonnes, down from 384.8 million the year before.
Wheat production in 2017-18 is put at 49.6 million tonnes,
down from 62.9 million. The 2017-18 barley crop is forecast at
3.5 million tonnes, down from 4.3 million. Sorghum production
in 2017-18 is put at 8.5 million tonnes, down from 12.2 million
the year before.
Output of oats is set to rise to 1 million tonnes from 900,000 in
2016-17, while the rye crop is put at an unchanged 300,000 tonnes.
The United States is the world's largest grain exporter by a wide
margin. In 2017-18 it is set to export a total of 79.5 million tonnes of
grain, down from 92.3 million the year before,
according to the IGC. It will import 6.5 million tonnes, up from 5.5 million the year before.
Those exports include 26.1 million tonnes of
wheat in 2017-18, down from 27.6 million; 48.2
million tonnes of maize, down from 57.9 milUNITED STATES
lion; and an unchanged 200,000 tonnes of barley. Imports include 3 million tonnes of wheat,
up from 2.5 million the year before, and 1.3 million tonnes of maize, up from 1 million.
The United States is also a major producer
and exporter of soybeans. In 2017-18 its crop is forecast
at 115.5 million tonnes, down from 117.2 million the year
before, with 2017-18 exports put at 58 million tonnes,
up from 55.3 million the year before. Although the United States is the world's biggest soybean producer, it has been
pushed into second place as an exporter in recent years by Brazil.
U.S. production of rapeseed is put at 1.5 million tonnes in 2017-18,
compared with 1.4 million the year before. Rapeseed exports were
an unchanged 100,000 tonnes.
CANADA

MEXICO

CUBA

JAMAICA

BELIZE

THE
BAHAMAS

HAITI

HONDURAS

VENEZUELA

COLOMBIA

Capital: Washington, D.C.
Population: 323,995,528 (July 2016 est.)
Religions: Protestant 46.5%, Roman Catholic 20.8%,
Mormon 1.6%, Jehovah's Witness 0.8%, other Christian
0.9%, Jewish 1.9%, Muslim 0.9%, Buddhist 0.7%, Hindu
0.7%, other 1.8%, unaffiliated 22.8%, don't know/refused
0.6% (2014 est.).
Location: North America, bordering both the North Atlantic
Ocean and the North Pacific Ocean, between Canada and
Mexico.
Government: Constitutional federal republic. Chief of
state and head of government: President Donald J. Trump
(since Jan. 20, 2017).
Economy: The United States has the most technologically
powerful economy in the world, with a per capita GDP of
$57,300. U.S. firms are at or near the forefront in technological advances, especially in computers, pharmaceuticals,
and medical, aerospace, and military equipment. However,
their advantage has narrowed since the end of World War
II. Based on a comparison of GDP measured at Purchasing
Power Parity conversion rates, the U.S. economy in 2014,
having stood as the largest in the world for more than a century, slipped into second place behind China. In the United
States, private individuals and business firms make most of
the decisions, and the federal and state governments buy
needed goods and services predominantly in the private
marketplace. Long-term problems for the United States
include stagnation of wages for lower-income families, inadequate investment in deteriorating infrastructure, rapidly
rising medical and pension costs of an aging population. Imported oil accounts for nearly 55% of U.S. consumption and
oil has a major impact on the overall health of the economy.
Because the U.S. economy is energy-intensive, falling oil
prices since 2013 have alleviated many of the problems the
earlier increases had created. The sub-prime mortgage crisis,
falling home prices, investment bank failures, tight credit,
and the global economic downturn pushed the United
States into a recession by mid-2008. GDP contracted until
the third quarter of 2009, making this the deepest and longest downturn since the Great Depression. To help stabilize
financial markets, the U.S. Congress established a $700 billion Troubled Asset Relief Program in October 2008. In 2010
and 2011, the federal budget deficit reached nearly 9% of
GDP. In 2014, the unemployment rate dropped to 6.2%, and
continued to fall to 5.5% by mid-2015.
GDP per capita: $57,300 (2016 est.); inflation: 1.3%
(2016 est.); unemployment: 4.7% (2016 est.).
Currency: U.S. dollar.
Exports: $1.471 trillion (2016 est.): agricultural products
(soybeans, fruit, corn) 9.2%, industrial supplies (organic
chemicals) 26.8%, capital goods (transistors, aircraft, motor
vehicle parts, computers), 49.0%, consumer goods (automobiles, medicines) 15.0% (2008 est.).
Imports: $2.205 trillion (2016 est.): agricultural products
4.9%, industrial supplies 32.9% (crude oil 8.2%), capital
goods 30.4% (computers, telecommunications equipment,
motor vehicle parts, electric power machinery), consumer
goods 31.8% (automobiles, clothing, medicines) (2008 est.).
Major crops/agricultural products: Grain, wheat, corn,
other grains, fruits, vegetables, cotton; beef, pork, poultry,
dairy products; fish; forest products.
Agriculture: 1.1% of GDP and 0.7%of the labor force.
Internet: Code: .us; 239.58 million million users.
Source CIA World Factbook

July 2017 / World Grain / www.World-Grain.com

http://www.World-Grain.com

World Grain - July 2017

Table of Contents for the Digital Edition of World Grain - July 2017