Profile of agribusinesses in Tennessee: Knowledge of international markets, needs and informational sources

Randall Wordlaw, Tennessee State University

Abstract

International trade is the exchange of goods and services between countries. International trade occurs because a country is able to purchase goods internationally cheaper than it can produce them domestically. American producers trade 60 percent of wheat, rice, and soybean products produced in the U.S. Agricultural exports have played a significant role in the United States’ economy for many years. Exports of agricultural products have maintained a trade surplus for over forty years, helping to decrease the overall U.S. trade deficit. Small and medium-sized enterprises are instrumental in creating job opportunities, enhancing economic efficiency through competition and cooperation, and producing high value-added products through innovation. However, many small and medium-sized enterprises have a difficult time expanding into these foreign markets. The primary objective of this study is to gain insights into the behavior of Tennessee Agribusinesses and assess problems confronting Tennessee agriculture products exporters. A survey of 197 randomly selected agricultural product producers was conducted using a questionnaire developed for collecting data for the study. A majority of the firms responding were in nursery production followed by bakery and fruits/vegetables and only 25% were involved in the exporting. This is slightly higher than the nations average as only 20% of firms engage in exports nationally. The results of the study provide several useful information and implications regarding the types of information and resources current and potential agribusiness exporters will find useful in exporting their products. ^

Subject Area

Agriculture, General|Economics, Agricultural

Recommended Citation

Randall Wordlaw, "Profile of agribusinesses in Tennessee: Knowledge of international markets, needs and informational sources" (2010). ETD Collection for Tennessee State University. Paper AAI1480453.
http://digitalscholarship.tnstate.edu/dissertations/AAI1480453

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