In contrast to the nation’s persistent overall...
In contrast to the nation’s persistent overall trade deficit, agricultural sales abroad remained comfortably in the black as the federal government’s fiscal year ended Sept. 30, the Agriculture Department said. Japan remained the top buyer of farm goods as it has for the last two decades. Farm exports climbed to $35.2 billion from $27.87 billion in fiscal 1987, a 26% increase. Imports rose 2% to a record $21 billion, leaving a net surplus of $14.2 billion, up from $7.22 billion in fiscal 1987. The Soviet Union and Japan were among the five fastest-growing markets, joining China, Algeria and India. Among the nation’s other leading foreign markets, only the European Community showed decreased purchases.
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