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Mainly as a result of the economic slowdown in key Asian countries, the value of U.S. exports of cocoa and cocoa products are forecast to decline in 1997/98 to $425 million. In addition, U.S. exports to Canada and the EU are forecast to decline. U.S. exports of cocoa and products during October-July 1997/98 were $342.3 million, a decline of over 3 percent from the previous year. The value of shipments to Canada declined by over 2 percent in October-July 1997/98 from the same period in 1996/97. However, exports to Canada in 1996/97 were a record $205.6 million, up over 23 percent from 1995/96. Exports to Mexico are up over 5 percent. Shipments to the EU during October-July 1997/98 are down $1.7 million from the 1996/97 level. Although shipments are up considerably to Belgium-Luxembourg, Germany, the Netherlands, and the United Kingdom, exports to Finland dropped from $17.1 million in October-July 1996/97 to $9.3 million in the same period of 1997/98. U.S. exports to most key Asian countries declined during the October-July 1997/98 period. China, Hong Kong, Japan, Korea, the Philippines, Singapore, Taiwan, and Thailand all posted year-to-year declines.
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