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U.S. Agriculture Exports Benefit From Free Trade Agreements With South America

World Trade – Agriculture

Open Eyes Opinion {source: USDA/FAS}

 

U.S. Exports Have Benefited from Free Trade Agreements with Key South American Countries

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Highlights

The United States currently has free trade agreements with three South American countries – Colombia, Peru, and Chile. Although these countries only account for 37 percent of total South American agricultural imports, they account for 56 percent of U.S. sales to the region.

U.S. exports to these countries have increased much faster than to the rest of South America, up 170 percent in the past five years, compared to a 100-percent increase to non-FTA countries in South America.

U.S. agricultural exports to South America nearly doubled in the past four years, reaching a record of more than $8 billion in calendar year 2014.

Over the past decade, U.S. farm and food exports to South America have increased faster than to any other region of the world, up more than 300 percent.

This dramatic growth has been due to a number of key factors.

One of these has been the implementation of free trade agreements (FTAs) between the U.S. and three South American countries – Colombia, Peru, and Chile.

Another factor has been a reduction in Argentine export competition over the past few years, which has boosted U.S. exports to South American countries such as Brazil. In fact, in 2014, U.S. exports to South America surpassed Argentina’s exports to the region.

Read Full Report:   http://www.fas.usda.gov/sites/default/files/2015-05/05-2015_south_america_iatr.pdf

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