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2023
Exports $4.27BWorld Rnk 1 / 123
Flag Rnk 80 / 1217
2023
Destination $196M South Korea
2022 - 2023
FASTEST GROWING MARKET $196MMexico
2023
PRODUCT COMPLEXITY IN Bovine Meat-0.65Rnk 748 / 1025
2023
Imports $5.33BWorld Rnk 1 / 203
Flag Rnk 106 / 1215
2023
Origin $364M Canada
2022 - 2023
FASTEST GROWING ORIGIN $364MCanada
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $4.27B in Bovine Meat, making it the 1st largest exporter of Bovine Meat in the world. At the same year, Bovine Meat was the 80th most exported product in United States. The main destination of Bovine Meat exports from United States are: South Korea ($965M), Mexico ($803M), Japan ($765M), Canada ($602M), and Chinese Taipei ($361M).

The fastest growing export markets for Bovine Meat of United States between 2022 and 2023 were Mexico ($196M), South Korea ($62.9M), and Canada ($35.8M).

Imports In 2023, United States imported $5.33B in Bovine Meat, becoming the 1st largest importer of Bovine Meat in the world. At the same year, Bovine Meat was the 106th most imported product in United States. United States imports Bovine Meat primarily from: Canada ($2.66B), Mexico ($1.55B), Australia ($744M), Nicaragua ($101M), and New Zealand ($82.7M).

The fastest growing import markets in Bovine Meat for United States between 2022 and 2023 were Canada ($364M), Australia ($187M), and Uruguay ($8.44M).

COMPANIES In 2023, leading companies such as JBS Foods (795), Lawrence Wholesale (38), and CrimsonLogic (10) were at the forefront of shipping Bovine Meat to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Bovine Meat exports accounted up to $366M and imports accounted up to $528M, resulting in a negative trade balance of $162M. Between November 2023 and November 2024 the exports of United States'   Bovine Meat have increased by $13.8M (3.93%) from $352M to $366M, while imports increased by $34.1M (6.9%) from $494M to $528M.

Destinations In November 2024, Bovine Meat were exported mostly to South Korea ($83M), Japan ($76.3M), Mexico ($68.4M), Canada ($45.3M), and China ($26.5M), and were imported mostly from Canada ($246M), Mexico ($136M), Australia ($101M), Brazil ($8.15M), and Nicaragua ($8M).

Growth In November 2024, the increase in Bovine Meat's year-by-year exports was explained primarily by an increase in exports to Mexico ($7.09M or 13.1%), Colombia ($700k or 791%), and Guatemala ($608k or 58.2%). In November 2024, the increase in Bovine Meat's year-by-year imports was explained primarily by an increase in imports from Canada ($22.5M or 12.4%), Australia ($10.1M or 22%), and Argentina ($1.89M or 47.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$13.8M(3.93%)
IMPORT GROWTH (November 2023 - November 2024)$34.1M(6.9%)
MAIN EXPORTER (November 2024)Kansas$108M
MAIN DESTINATION (November 2024)South Korea$83M

This section shows Bovine Meat's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Bovine Meat over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$4.27B
IMPORTS (2023)$5.33B
NET TRADE (2023)-$1.05B

In 2023, United States exported $4.27B in Bovine Meat. The main destinations of United States exports on Bovine Meat were South Korea ($965M), Mexico ($803M), Japan ($765M), Canada ($602M), and Chinese Taipei ($361M).

In 2023, United States imported $5.33B in Bovine Meat, mainly from Canada ($2.66B), Mexico ($1.55B), Australia ($744M), Nicaragua ($101M), and New Zealand ($82.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Bovine Meat EXPORT MARKETS FOR United States WERE (2022 - 2023):
Mexico$196M (32.3%)
South Korea$62.9M (6.98%)
Canada$35.8M (6.32%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Bovine Meat BY United States WERE (2022 - 2023):
Japan-$181M (-19.2%)
Chinese Taipei-$48.6M (-11.9%)
Israel-$8.65M (-37.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Bovine Meat were:
Canada $2.93B
Australia $2.87B
In 2023, United States's main importing competitors in Bovine Meat were:
Italy $2.34B
Netherlands $2.02B

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Trade Value of Bovine Meat by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALItaly+ $30M
TOP IMPORT POTENTIALArgentina+ $42.4M

Bovine Meat’s highest export potential is Italy. With an export gap of $30M.   Bovine Meat’s highest import potential is Argentina with an import gap of $42.4M.

See methodology.

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