1998 U.S. AG EXPORTS PROJECTED AT $58.5 BILLION

                                            Release No. 0420.97
  

                                                               
                                   Laura Trivers (202) 720-4623
                                         laura.trivers@usda.gov
                                   Maria Bynum   (202) 720-5192
                                           maria.bynum@usda.gov
                                   
1998 U.S. AG EXPORTS PROJECTED AT $58.5 BILLION

     BUENOS AIRES, Dec. 2, 1997--Agriculture Secretary Dan Glickman announced today
that the fiscal 1998 forecast for U.S. agricultural exports continues firm at $58.5 billion.  This
would be $1.1 billion above the fiscal 1997 level, and the second highest export total on record.

     "Exports are critical to the economic success of U.S. agriculture," said Glickman. "With
American farmers' continuing reliance on international markets, this forecast is good news for
America's family farmers and also for the many businesses and their employees in other sectors
who depend on agricultural exports for their livelihood." 
          
     A solid showing is expected in the export value of soybeans and products, poultry and
products, and horticultural products.

     "A concern is the potential for a slowdown in exports to Southeast Asia and South Korea
due to the financial crisis," said Glickman.  "However, Southeast Asia accounted for only 5
percent of U.S. agricultural exports in 1997, while South Korea accounted for 6 percent. The
financial crisis is slowing income growth, and that may weaken demand for U.S. exports.  But
agricultural products, particularly bulk commodities, may be less affected than industrial or luxury
goods."
   
     Fiscal 1998 U.S. agricultural imports are projected at $38 billion, $2.2 billion above the
fiscal 1997 total of $35.8 billion, making the trade balance $20.5 billion.  U.S. agriculture has
been running an unbroken string of trade surpluses since 1960.

     USDA issues its Outlook for U.S. Agricultural Exports every quarter.  The next issue will
be released February 23, 1998.  The summary of the report is available electronically on the ERS
home page, http://www.econ.ag.gov/whatsnew/thisweek/ and the full text of the report will be
available electronically at the same location in about a week, for details call (202) 694-5050.

                               #
   

NOTE: USDA news releases and media advisories are available on the Internet.
Access the USDA Home Page on the World Wide Web at http://www.usda.gov