Behind every meal that feeds the nation lies an economic powerhouse, as the U.S. agriculture and food sector contributed a staggering $1.530 trillion to the national GDP in 2023.
Key Takeaways
- Agriculture, food, and related industries contributed roughly $1.530 trillion to U.S. GDP in 2023
- The output of America’s farms contributed $203.5 billion to the GDP in 2023
- Food service, eating, and drinking places accounted for $776.1 billion of the value added to GDP in 2023
- There are approximately 1.9 million farms in the United States
- Land in farms consists of about 880 million acres across the U.S.
- The average farm size in the United States is 463 acres
- U.S. farmers produced 15.3 billion bushels of corn in 2023
- Soybean production in the U.S. totaled 4.16 billion bushels in 2023
- All wheat production in the U.S. totaled 1.81 billion bushels in 2023
- Market hogs and pigs inventory was 67.5 million head as of June 1, 2024
- Total cattle and calves inventory in the U.S. was 87.2 million head as of January 1, 2024
- The number of milk cows in the U.S. was 9.3 million head in 2023
- Agriculture accounts for about 10% of total U.S. greenhouse gas emissions
- Soil management practices account for 50% of agricultural greenhouse gas emissions
- Enteric fermentation (livestock methane) accounts for 27% of agricultural GHG emissions
The U.S. agriculture industry is a massive economic force, contributing trillions to GDP and employing millions.
Crop Production
- U.S. farmers produced 15.3 billion bushels of corn in 2023
- Soybean production in the U.S. totaled 4.16 billion bushels in 2023
- All wheat production in the U.S. totaled 1.81 billion bushels in 2023
- U.S. cotton production was estimated at 12.1 million 480-lb bales in 2023
- Total rice production in the U.S. was 218 million cwt in 2023
- U.S. sugarbeet production reached 35.2 million tons in 2023
- Sugarcane production for sugar and seed was 33.3 million tons in 2023
- Peanut production in the U.S. was 5.89 billion pounds in 2023
- Potato production in the U.S. totaled 441 million cwt in 2023
- Dry edible bean production reached 24 million cwt in 2023
- Sunflower production totaled 2.26 billion pounds in 2023
- U.S. sorghum production was 318 million bushels in 2023
- Barley production for 2023 totaled 185 million bushels
- Oat production was estimated at 57 million bushels in 2023
- Alfalfa hay production totaled 49.9 million tons in 2023
- All other hay production totaled 68.9 million tons in 2023
- U.S. apple production was 9.8 billion pounds in 2023
- Grape production reached 6.1 million tons in 2023
- Total orange production for 2022-2023 season was 2.5 million tons
- Strawberry production totaled 2.6 billion pounds in 2023
- U.S. almond production (shelled basis) was 2.5 billion pounds in 2023
- Walnut production reached 820,000 tons in 2023
- Pistachio production in the U.S. hit a record 1.49 billion pounds in 2023
- Peach production was estimated at 543,000 tons for 2023
- Cherry production (sweet and tart) totaled 421,000 tons in 2023
- Blueberry production (utilized) in the U.S. was 711 million pounds in 2023
- Cranberry production reached 8.1 million barrels in 2023
- Pecan production was estimated at 240 million pounds in 2023
- Pear production totaled 670,000 tons in 2023
- Commercial vegetable production value for the U.S. was $19.5 billion in 2023
Crop Production Interpretation
Behold the awe-inspiring, calorie-bending, and fabric-weaving power of American agriculture, where each year our farmers orchestrate a symphony of billions of bushels, tons, and pounds so vast it could generously feed and clothe a nation while still leaving enough for a truly epic fruit and nut platter.
Economic Impact
- Agriculture, food, and related industries contributed roughly $1.530 trillion to U.S. GDP in 2023
- The output of America’s farms contributed $203.5 billion to the GDP in 2023
- Food service, eating, and drinking places accounted for $776.1 billion of the value added to GDP in 2023
- Food and beverage manufacturing contributed $323 billion to the total U.S. GDP in 2023
- Agricultural exports reached a record value of $196 billion in fiscal year 2022
- Total cash receipts from crops were estimated at $273.6 billion in 2023
- Total cash receipts from animals and animal products reached $244 billion in 2023
- Net farm income is forecast at $116 billion for the 2024 calendar year
- Production expenses for U.S. farmers are estimated at $458.9 billion in 2024
- Direct government farm payments are forecast at $10.4 billion for 2024
- The average net cash farm income for farm businesses is projected at $90,100 for 2024
- Intermediate product expenses like feed and fertilizer accounted for $267.4 billion in costs in 2023
- Total farm sector assets are valued at approximately $4.27 trillion in 2024
- Farm real estate debt reached an estimated $381.8 billion in 2024
- Non-real estate farm debt reached $159.2 billion in 2024
- The debt-to-asset ratio for the U.S. farm sector is projected at 12.68% for 2024
- Agriculture and food sectors provide 10.4% of total U.S. employment
- U.S. agricultural imports were valued at $195.4 billion in fiscal year 2023
- Corn exports from the U.S. generated $12.3 billion in revenue in 2023
- Soybean exports represented the highest value crop export at roughly $28 billion in 2023
- Dairy product exports reached $8 billion in value during 2023
- The total value of beef exports from the U.S. was $9.9 billion in 2023
- Pork exports contributed $8.16 billion to the U.S. economy in 2023
- Poultry and egg exports were valued at $5.5 billion in 2023
- Tree nut exports (almonds, walnuts, pistachios) were valued at $8.2 billion in 2023
- California leads the nation in agricultural cash receipts with over $50 billion annually
- Iowa is the second leading state in cash receipts, generating over $30 billion
- Nebraska ranks third in agricultural cash receipts at approximately $25 billion
- Texas agricultural cash receipts total roughly $24 billion annually
- Minnesota ranks fifth in agricultural cash receipts at $17 billion
Economic Impact Interpretation
For all the talk of Silicon Valley, it turns out America's most essential trillion-dollar industry still runs on actual soil, sweat, and a shockingly narrow profit margin, where farmers feed the world on a shoestring while the real money is made after the food leaves the farm.
Land and Demographics
- There are approximately 1.9 million farms in the United States
- Land in farms consists of about 880 million acres across the U.S.
- The average farm size in the United States is 463 acres
- Approximately 39% of U.S. farmland is rented or leased
- 97% of U.S. farms are family-owned and operated businesses
- Small family farms (less than $350k GCFI) operate 45% of U.S. farmland
- Large and very large family farms account for 46% of the total value of production
- The average age of all U.S. farm producers is 58.1 years
- The number of beginning farmers (10 years or less experience) is 1,057,190
- There are 1.2 million female producers in the U.S., representing 36% of all producers
- 58% of U.S. farms have at least one female decision-maker
- Military veterans make up 9% of all U.S. agricultural producers
- The number of farms with American Indian or Alaska Native producers is 60,118
- There are 41,807 Black-operated farms in the United States
- Hispanic-operated farms number 112,686 in the 2022 Census
- Asian-operated farms in the U.S. total 23,267
- Only 1 in 4 producers are under the age of 45
- Total cropland in the U.S. is roughly 380 million acres
- Pasture and rangeland account for about 415 million acres of U.S. land
- Forest-use land on farms accounts for about 69 million acres
- The number of farms in the U.S. has declined by 7% since 2017
- 74% of U.S. farms have internet access as of 2022
- Texas has the highest number of farms of any state at 230,662
- Missouri ranks second in number of farms with 87,887
- Iowa has 80,419 farms, ranking third in quantity
- Oklahoma contains 70,378 farms
- Kentucky has 69,425 farms
- The average value of farm real estate (land and buildings) is $4,170 per acre
- Cropland value in the U.S. averaged $5,570 per acre in 2024
- Pastureland value in the U.S. averaged $1,830 per acre in 2024
Land and Demographics Interpretation
The American farm, now primarily run by geriatric guardians on ever-valuable land, presents a paradox of resilient tradition clinging to an asset base that increasingly defies both the youthful vitality and the diverse future trying to take root.
Livestock and Poultry
- Market hogs and pigs inventory was 67.5 million head as of June 1, 2024
- Total cattle and calves inventory in the U.S. was 87.2 million head as of January 1, 2024
- The number of milk cows in the U.S. was 9.3 million head in 2023
- Total milk production in the U.S. for 2023 was 226 billion pounds
- There were 2.87 billion broiler chickens produced in the U.S. in 2023
- Total egg production in 2023 was 109 billion eggs
- The inventory of all sheep and lambs was 5.03 million head as of January 1, 2024
- Total turkey production reached 218 million birds in 2023
- Honey production by commercial beekeepers was 139 million pounds in 2023
- U.S. goat inventory totaled 2.47 million head on January 1, 2024
- Red meat production in the U.S. totaled 54.4 billion pounds in 2023
- Beef production totaled 26.9 billion pounds in 2023
- Pork production totaled 27.3 billion pounds in 2023
- Lamb and mutton production totaled 131 million pounds in 2023
- Veal production totaled 48.6 million pounds in 2023
- Average milk production per cow in 2023 was 24,117 pounds
- Wool production in the U.S. was 22.7 million pounds in 2023
- The number of cattle on feed in lots with capacity of 1000+ head was 11.3 million on June 1, 2024
- Total catfish production (foodsize) was 323 million pounds in 2023
- Trout sales in the U.S. totaled $101 million in 2023
- There are 2.52 million colonies of honey bees in the U.S. as of January 1, 2024
- Commercial layer chicken inventory averaged 379 million birds in 2023
- Angora goat inventory was 107,000 head in 2023
- Mohair production totaled 500,000 pounds in 2023
- Total commercial hatch of broiler-type chicks was 9.94 billion in 2023
- Total commercial hatch of egg-type chicks was 637 million in 2023
- Mink pelt production was 1.33 million pelts in 2022
- In 2023, 127 million hogs were slaughtered in the United States
- Total cattle slaughter in 2023 was 32.2 million head
- Calf slaughter totaled 283,500 head in 2023
Livestock and Poultry Interpretation
America has a protein empire so vast, the chickens need their own spreadsheet, the cows require a dedicated census, and the bees are working double shifts just to keep the toast interesting.
Sustainability and Tech
- Agriculture accounts for about 10% of total U.S. greenhouse gas emissions
- Soil management practices account for 50% of agricultural greenhouse gas emissions
- Enteric fermentation (livestock methane) accounts for 27% of agricultural GHG emissions
- Manure management accounts for about 14% of agricultural GHG emissions
- Precision agriculture technologies are used on approximately 50% of U.S. corn and soybean acres
- Cover crops were planted on 19.7 million acres in 2022, a 17% increase from 2017
- No-till farming practices were used on 105 million acres in 2022
- Reduced-tillage (conservation tillage) was used on 103 million acres in 2022
- Organic sales in the U.S. reached $67.6 billion in 2022
- There are 17,048 certified organic farms in the United States
- Renewable energy producing systems are installed on 153,101 farms
- Solar panels account for 76% of renewable energy systems on U.S. farms
- Geo-thermal energy systems are present on about 3,000 U.S. farms
- Wind turbines are utilized by approximately 14,000 U.S. farms
- Methane digesters are utilized on approximately 330 livestock operations
- Agriculture uses approximately 80% of U.S. consumptive water use
- Over 55 million acres of U.S. farmland are irrigated
- Nebraska has the most irrigated land with 8.2 million acres
- Sprinkler irrigation systems are used on 55% of irrigated acres
- Drip or trickle irrigation is used on roughly 10% of irrigated land
- Use of Variable Rate Technology (VRT) for fertilizer has grown to 40% of large corn farms
- Auto-steer GPS technology is used by over 70% of large-scale grain farmers
- Genetically modified (GM) corn accounts for 93% of all U.S. corn acreage
- GM soybeans account for 95% of all U.S. soybean acreage
- GM cotton (herbicide tolerant/insect resistant) accounts for 97% of U.S. cotton acres
- Conservation Reserve Program (CRP) enrollment is capped at 27 million acres
- Approximately 30,000 farms use drones for crop scouting or monitoring
- Vertical farming/controlled environment ag is projected to be a $3 billion industry in the U.S. by 2025
- 40% of the U.S. food supply is wasted, totaling $218 billion annually
- Soil carbon sequestration on U.S. agricultural lands has the potential to offset 10-15% of annual fossil fuel emissions
Sustainability and Tech Interpretation
The American farm is a study in profound contradictions, wielding GPS-guided tractors and genetically modified seeds to feed the nation while its own soil and livestock remain the source of a tenth of our emissions, yet it is also quietly deploying solar panels, cover crops, and no-till fields in a race to turn its vast acreage from a climate problem into a carbon-sequestering solution.
Sources & References
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