In 2008, the United States exported US$11.3 billion worth of wheat to 94 importing nations around the world. This represents a 35.5% gain from the $8.3 billion in American wheat shipments in 2007.
The U.S. imported $1.08 billion worth of wheat from 15 supplying countries in 2008, up 115.4% from the $501.5 million of the food grain commodity imported into America just one year earlier.
With exports more than 10 times greater than imports, the U.S. has a strong competitive advantage in producing and selling wheat in international trade.
Wheat is a strategic food commodity that can be powdered into flour or processed into pasta. Wheat is a key ingredient used to make biscuits, bread, breakfast cereals, cakes, cookies, crackers, muffins, pancakes and pies.
Wheat is also used to make biofuel, beer and liquors like vodka.
Top Buyers of US Exported Wheat
Below are the 15 nations that imported the highest value of American wheat in 2008. Dollar amounts shown are the value of exports at U.S. shipping ports and include the transaction price, inland freight and insurance.
These 15 countries consumed 77.7% of all wheat that the U.S. shipped abroad during 2008.
- Japan … US$1.6 billion (14.3% of US wheat exports, up 102.9% from 2007)
- Mexico … $1 billion (9.1%, up 62.6%)
- Nigeria … $924.7 million (8.2%, up 41.6%)
- Iraq … $772.2 million (6.8%, up 86.6%)
- Philippines … $703 million (6.2%, up 99.6%)
- Egypt … $634.5 million (5.6%, down 13.5%)
- Iran … $535.6 million (4.7%, up from nil in 2007)
- South Korea … $526.1 million (4.7%, up 60.1%)
- Venezuela … $396 million (3.5%, up 73.8%)
- Indonesia … $364.3 million (3.2%, up 54%)
- Colombia … $330 million (2.9%, up 57.5%)
- Taiwan … $326.9 million (2.9%, down 0.04%)
- Brazil … $295 million (2.6%, up 226%)
- Thailand … $164.3 million (1.5%, up 49.9%)
- Guatemala … $158.5 million (1.4%, up 17.5%).
Fastest-growing markets for U.S. wheat include highly populated countries led by Brazil (up 226%), Japan (up 102.9%) and the Philippines (up 99.6%). Wheat imports to Iran showed the greatest spike, reaching a value of $535.6 million in just one year.
American wheat exports to China amounted to only $142,000 in 2008; the People’s Republic is the world’s leading producer of wheat.
In contrast, wheat is a scarce resource in Haiti which imported $64.1 million worth of U.S. wheat in 2008. That amount represents a 68.1% rise from 2007.
Top Suppliers of America’s Imported Wheat
Canada generated 97% of the wheat that the U.S. imported during 2008. The amounts shown below for all 15 countries are based on the value of imported wheat as appraised by the U.S. Customs Service. This value excludes U.S. import duties, freight and insurance.
- Canada… US$1.05 billion (97% of US wheat imports, up 114.6% from 2007)
- Mexico… $26.2 million (2.4%, up 101.7%)
- United Kingdom… $5.7 million (0.5%, up from nil in 2007)
- Argentina… $550,000 (0.05%, up from nil in 2007)
- Italy… $200,000 (0.02%, up 47.1%)
- Turkey… $128,000 (0.01%, up 456.5%)
- Lebanon… $49,000 (0.005%, up 345.5%)
- Germany… $38,000 (0.004%, down 68.1%)
- Peru… $23,000 (0.002%, up 35.3%)
- Russia… $18,000 (0.0017%, up 500%)
- Egypt… $5,000 (0.0005%, no change)
- Israel … $4,000 (0.0004%, down 81.8%)
- Morocco … $4,000 (0.0004%, no change)
- Cyprus… $3,000 (0.0003%, up from nil in 2007)
- India… $3,000 (0.0003%, up from nil in 2007).
Canada imported $11.9 million worth of American wheat while supplying over $1 billion in comparable grain shipments to the U.S. in 2008.
Canada is not only America’s leading supplier of wheat. The Great White North also has a competitive advantage in trading wheat with the U.S. equal to $1.04 billion.
Still, Canada is an exception. The U.S. maintains a powerful competitive advantage in its wheat business with over 90 other countries.
Sources: United States International Trade Commission’s Interactive Tariff and Trade DataWeb.
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
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