US dairy exports hit record-high $7.2 billion in 2014

Despite a downturn in the second half of 2014, exports of US dairy products last year reached a record-high $7.2 billion, up 6% from the previous record-high $6.80 billion in 2013, according to data released by the US Department of Agriculture and the US Department of Commerce.

On the other hand, total imports amounted to $3.52 billion, up about 10% from the $3.19 billion in 2013.

The value of dairy product exports was more than double the value of dairy imports. Dairy trade surplus (exports minus imports) was $3.68 billion, up from $3.61 billion in 2013.

During the last month of 2014, dairy product exports dived to their lowest since February 2013 to an estimated $485 million, down 4% from November, and 21% less than in December 2013.

Imports in the same month reached $338 million, up 8% from November. 

Total cheese imports in 2014 were estimated at $1.27 billion, up 11% from 2013.

Cheese imports in December amounted to $131 million, down 1% from November.