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  8. Impact of the 2015 U.S. Dollar Rise on Export Prices and on the Agricultural Industry

Impact of the 2015 U.S. Dollar Rise on Export Prices and on the Agricultural Industry

File(s)
BLS_BTN_Impact_of_the_2015_US_dollar_rise.pdf (1.08 MB)
Permanent Link(s)
https://hdl.handle.net/1813/78141
Collections
Federal Publications
Publications of the U.S. Bureau of Labor Statistics
Author
Rosenstein, Tamar
Abstract

U.S. export prices experienced a major decline in 2015, as evidenced by the Bureau of Labor Statistics (BLS) export price index. Prices for U.S. exports, published in dollar terms, decreased 6.6 percent in 2015, the largest calendar-year decline since the index was first published in 1983. However, the large decline in the U.S. dollar export price index did not tell the entire story. When measured in foreign currency terms, export prices were actually higher because of the strong dollar. The value of the dollar strengthened against the euro, Japanese yen, Chinese yuan, and Canadian dollar. Continued slow global economic and trade growth dampened demand for U.S. exports and influenced U.S. export price trends. The meeting of the strong dollar and lackluster demand for U.S. exports was particularly challenging for the U.S. agricultural industry. This Beyond the Numbers article analyzes what impact the strengthening dollar had on certain agricultural commodities.

Date Issued
2016-12-01
Keywords
export prices
•
agricultural industry
•
dollar strength
•
foreign currency
Type
government record

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