Summary
The eight countries of North Asia account for just over one-fifth of the world’s population and global GDP. The region’s prominence is even greater in terms of global agricultural trade. North Asia accountsfor 28 percent of global agricultural imports. Over the next decade, nearly 40 percent of the global growth in the middle class is forecast to occur in North Asia. This increase is expected to further boost demand for agricultural imports. As the top supplier to the region, accounting for 25 percent of the market, the United States is expected to continue as the primary beneficiary of this growth.
North Asia Emerges as Top U.S. Market
In 2008, North Asia surpassed North America to become the top U.S. regional market and, by 2012, accounted for more than one-third of all U.S. agricultural exports. Despite strong growth in the NAFTA market of Canada and Mexico, North Asia surged to the top regional market largely due to demand from China, Hong Kong, and South Korea.
