Browse Data and Analysis

U.S. exporters can find ample opportunities in the Iberian Peninsula. Spain is the third-largest European Union (EU) destination for U.S. agricultural products, with Portugal ranking 11th. In 2021, the United States exported $1.6 billion of agricultural products to Spain, or 15 percent of total U.S. agricultural exports to the EU. The United States held a 4 percent market share of Spain’s agricultural imports and 2 percent market share in Portugal, behind other EU member states as a group and Brazil.

On May 17, the Government of Iraq (GOI) announced higher purchase prices for locally-produced wheat in an effort to incentivize farmers to market their crop to the Ministry of Trade. On June 8, the GOI also passed a food security bill that allows the government to use public funds to meet urgent food needs, including issuing tenders to import wheat.

Continued drought and water shortages is affecting economic activities in Iraq, especially grain production in 2022. The Iraqi Ministry of Agriculture cut agricultural cropping in irrigated areas to 50 percent less than the previous year due to shortages in surface water.

In 2021, Portugal imported $244 million worth of agricultural, fish, and forestry products from the United States. Outside the European Union Member States, the United States was the third main origin of Portuguese agricultural and related imports.

Portuguese cattle and swine sectors are currently restructuring to increase their domestic beef and pork production to meet domestic and export market demands. The meat sector is also working to open new strategic export markets, especially in the pork market.