With total 2016/17 world trade forecast to be similar to last year and U.S. exports expected up by more than 35 percent, U.S. market share of world trade is expected to increase dramatically. U.S. export sales data show that through the first 5 months of the marketing year both accumulated exports and outstanding sales are about two thirds higher than at the same time last year. This higher U.S. export volume is supported by higher sales to China, Indonesia, Vietnam, and other smaller markets.
Export sales data show strong gains in most major U.S. markets, with the notable exception of Turkey. U.S. total commitments to China are nearly five times what they were at this time last year, despite China’s 2016/17 season imports being forecast up only marginally. U.S. commitments to Vietnam are nearly double last yearΆs level, while the countryΆs total imports are forecast up only 10 percent. Likewise, commitments to Indonesia have more than doubled, with 2016/17 season imports expected unchanged.
TurkeyΆs total imports are expected to decline sharply due to a larger domestic crop. Although season-to-date commitments to Turkey are down, U.S. market share is likely to remain stable. Commitments to date for Mexico are unchanged from a year ago even though total imports are forecast to increase year-over-year. The United States is expected to retain its nearly 100 percent share of MexicoΆs imports.
Total commitments to the rest of the world are up by a robust 80 percent, even though total imports in these markets are expected to be unchanged overall. Hence, U.S. share of total exports is expected to rise across the board in many markets.
