The U.S. agricultural sector contributed less than 1% to the national GDP in the second quarter of 2018, the smallest share in recorded history. While the economic impact of the sector on a national scale is the smallest ever, it remains a major sector in some parts of the country, accounting for more than 5% of GDP and 10% of total employment.
U.S. agricultural production is largely concentrated in the Great Plains, which is characterized by expanses of flat, arable land. In many Great Plains states, the most important agricultural products — the crop or livestock with the largest total production values — are cattle, corn, and soybeans. Relative to their size of their economy, these states have the largest agriculture sectors in the country, with farm output per worker more than 10 times greater than in Northeastern states with smaller farm economies.
24/7 Wall St. reviewed the total production value of approximately 170 agricultural commodities in 2017 using data from the United States Department of Agriculture’s National Agricultural Statistics Service. We considered livestock and plants and excluded non-food agricultural products, such as cotton, tobacco, and hay.
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.