Order Code RL32278
CRS Report for Congress
Received through the CRS Web
Trends in U.S. Agricultural
Export Credit Guarantee Programs
and P.L. 480, Title I, FY1992-FY2002
March 16, 2004
Carol Canada
Technical Information Specialist
Resources, Science, and Industry Division
Congressional Research Service ˜ The Library of Congress

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Trends in U.S. Agricultural Export Credit Guarantee
Programs and P.L. 480, Title I, FY1992-FY2002
Summary
Export credit guarantee programs operated by the Commodity Credit
Corporation (CCC) and P.L. 480, Title I, supported 7% or $3.7 billion of total
agricultural exports of $53 billion in FY2002. Over the 11-year period from FY1992
to FY2002, CCC export credit guarantee programs and P.L. 480, Title I food aid
programs have been used to finance agricultural commodity exports to over 100
countries. In FY2002, funding for export credit guarantee programs was $3.4 billion
and funding for P.L. 480, Title I, was $102 million. Export credit guarantee
programs are used to encourage, increase, and maintain U.S. exports in countries
where credit is used, but such exports would not be feasible without a guarantee.
P.L. 480, Title I, uses long term credit agreements to facilitate government-to-
government purchases of agricultural commodities by developing countries with the
potential to become commercial markets.
Export credit guarantee programs include the short-term Export Credit
Guarantee Program (GSM-102), the Intermediate Export Credit Guarantee Program
(GSM-103), the Supplier Credit Guarantee Program (SCGP), and the Facilities
Financing Guarantee Program (FGP). P.L. 480, Title I, is also included because it
provides long term credit for government-to-government agricultural sales. Export
credit guarantee programs are part of a broad range of agricultural export programs
that include export subsidy programs and market promotion programs, although these
programs are not covered in this report.
Among other things, this report shows that funding for export credit guarantee
programs varies from year to year; funding for export credit guarantee programs
increased from FY1999 to FY2002; funding for Title I decreased from FY2000 to
FY2002; more agricultural commodities have been exported using GSM-102 than
GSM-103; the commodity mix varies annually but the broad commodity categories
remain similar; countries’ use of government credit export programs and P.L. 480,
Title I, vary annually depending upon each country’s preference and ability to use and
pay off credit; and export credit guarantee programs and P.L. 480, Title I, as a percent
of total agricultural exports increased from FY2000 to FY2002.
This report provides tables and graphs on the composition of U.S. export credit
guarantee programs. Data is restricted to U.S. Department of Agriculture (USDA)
data that includes commodity value. This report will be updated as circumstances
warrant.

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Contents
Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Export Credit by Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Commodities Provided by Programs, FY1992-FY2002 . . . . . . . . . . . . . . . . 4
Regions Receiving Commodities, FY1992 and FY2002 . . . . . . . . . . . . . . . . 7
Export Credit Guarantee Programs and P.L. 480, Title I, as a Percentage
of U.S. Agricultural Exports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
List of Figures
Figure 1. Export Credit Guarantee Programs, Commodity Value,
FY1992-FY2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Figure 2. P.L. 480, Title I, by Commodity Value, FY1992-FY2002 . . . . . . . . . . 4
Figure 3. Export Credit Guarantee Program Commodities by Value, FY1992 . . 5
Figure 4. Export Credit Guarantee Program Commodities by Value, FY2002 . . 6
Figure 5. P.L. 480, Title I Commodities by Value, FY1992 and FY2002 . . . . . . 7
Figure 6. Value of Agricultural Exports Received by Region through
Export Credit Guarantee Programs, FY1992 . . . . . . . . . . . . . . . . . . . . . . . . . 8
Figure 7. Value of Agricultural Exports Received by Region through
Export Credit Guarantee Programs, FY2002 . . . . . . . . . . . . . . . . . . . . . . . . . 9
Figure 8. Value of Agricultural Exports Received by Region through
P.L. 480, Title I, FY1992 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
Figure 9. Value of Agricultural Exports Received by Region through
P.L. 480, Title I, FY2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Figure 10. Export Credit Programs and P.L. 480, Title I, as a Percent of
U.S. Agricultural Exports, FY1992-FY2002 . . . . . . . . . . . . . . . . . . . . . . . . 12
List of Tables
Table 1. CCC Export Credit Guarantee Programs and Title I,
FY1992-FY2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3
Table 2. Top 10 Export Credit Guarantee Program Commodities by Value
for FY1992 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
Table 3. Top 10 Export Credit Guarantee Program Commodities by Value
for FY2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Table 4. Value of Export Credit Guarantee Program by Region,
FY1992 and FY2002 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Table 5. Value of P.L. 480, Title I, by Region for FY1992 and FY2002 . . . . . . 11
Table 6. CCC Export Credit Guarantee Programs, P.L. 480, Title I,
and U.S. Agricultural Exports, FY1992-FY2002 . . . . . . . . . . . . . . . . . . . . 13
Appendix A. Export Credit Guarantee Program and P.L. 480, Title I
Commodity Mix during FY1992 and FY2002 . . . . . . . . . . . . . . . . . . . . . . 14
Appendix B. Countries That Used Export Credit Guarantee Programs and
P.L. 480, Title I, during FY1992 and FY2002 . . . . . . . . . . . . . . . . . . . . . . . 15

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Trends in U.S. Agricultural Export Credit
Guarantee Programs and P.L. 480, Title I,
FY1992-FY2002
Overview
Export credit guarantee programs are used to encourage, increase, and maintain
U.S. exports in countries where credit is used, but such exports would not be feasible
without a guarantee. When private U.S. financial institutions extend loans to
countries that want to purchase U.S. agricultural exports, the Commodity Credit
Corporation (CCC) issues a guarantee and assumes the default risk on the loans.1 If
the foreign purchaser defaults on the loan, then the U.S. government will pay back
the loan to the financial institution. There are four government credit programs: the
short-term Export Credit Guarantee Program (GSM-102), the Intermediate Export
Credit Guarantee Program (GSM-103), the Supplier Credit Guarantee Program
(SCGP), and the Facilities Financing Guarantee Program (FGP). The General Sales
Manager’s (GSM’s) office in the Foreign Agricultural Service (FAS) administers
these programs.
While the federal government provides guarantees, actual financing is provided
by banks. Co-Bank, a cooperative and a member of the Farm Credit System, is the
main user of these guarantee programs. Co-Bank states on its website2 that it is a
major lender under the GSM-102 and GSM-103 programs and that the majority of
its international portfolio of loans is guaranteed by the U.S. Department of
Agriculture’s (USDA’s) CCC. According to Co-Bank’s 2002 annual report,
agricultural loans accounted for 47% of its total loan and lease portfolio in 2002.
P.L. 480, Title I,3 does not guarantee repayment; it extends direct credit from the
U.S. government to the government of the foreign country that wants to purchase
U.S. agricultural exports. P.L. 480, Title I, is included because it uses long-term
credit agreements to facilitate government-to-government purchases of agricultural
commodities by developing countries with the potential to become commercial
markets.
1 The Commodity Credit Corporation (CCC) is the financing institution for USDA’s farm
price and income support commodity programs, and agricultural export subsidies.
2 See Co-Bank’s website at [http://www.cobank.com].
3 P.L. 480 was established by the Agricultural Trade Development and Assistance Act of
1954 (P.L. 83-480, July 10, 1954). It is also called Food for Peace and consists of three
titles: Title I, Title II, and Title III.

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GSM-102 and GSM-103 guarantee repayment when U.S. banks extend credit
to foreign banks to finance sales of U.S. agricultural goods. The CCC guarantees to
repay 98% of the principal and part of the interest for both programs in case of
default or nonpayment. GSM-102 was authorized by the Agriculture Trade Act of
1978 (P.L. 95-501). It guarantees repayment for up to three years. GSM-103 was
established by the Food Security Act of 1985 (P.L. 99-198), and it guarantees
repayment for 3 to 10 years. The Federal Agriculture Improvement and Reform Act
of 1996 (P.L. 104-127) mandated a minimum annual program level of $5.5 billion
for GSM-102 and GSM-103, but it allows flexibility in how much is made available
for each program. The Farm Security and Rural Investment Act of 2002 (P.L. 107-
171) reauthorized the program level.
Supplier Credit Guarantee Program (SCGP), a variation of GSM-102,
guarantees repayment from the importer when the U.S. exporter extends credit for
180 days or less directly to the importer. The CCC guarantees to repay 65% of the
export’s value. It was established by the Federal Agriculture Improvement and
Reform Act of 1996 (P.L. 104-127).
Facilities Financing Guarantee Program (FGP), also a variation of GSM-102,
guarantees repayment to investors who export manufactured goods and services to
emerging country markets to improve or establish agriculture-related storage,
processing, or handling facilities. The CCC currently guarantees 95% of the value
of exported goods and services, less a 15% initial payment the investor receives from
the importer. It was established by the Federal Agriculture Improvement and Reform
Act of 1996 (P.L. 104-127).
P.L. 480, Title I, uses long term credit agreements to facilitate government-to-
government purchases of agricultural commodities by developing countries with the
potential to become commercial markets. Title I is part of P.L. 480, which provides
U.S. agricultural commodities to countries with differing economic development
levels. P.L. 480 is authorized by the Agricultural Trade Development and Assistance
Act of 1954 (P.L. 83-480) and was reauthorized as amended by the Farm Security
and Rural Investment Act of 2002 (P.L. 107-171). Title I is administered by FAS.
Export Credit by Program
As shown in Figure 1, the levels of funding for export credit guarantee
programs have varied from year to year. In FY2002, export credit guarantee program
funding was at $3.4 billion, with GSM-102 at $3 billion and SCGP at $452 million.
Neither GSM-103 nor FGP was used in FY2002. GSM-102, the largest of the four
programs, peaked at $5.6 billion in FY1992. GSM-103 was used more in earlier
years, then declined to $63 million in FY1997, and has since remained below $100
million. SCGP, a new program established in 1996, increased from $4 million in
FY1997 to $452 million in FY2002. FGP is also a new program established in 1997
that was first used in FY2000 at $5 million and has not been used again. (See Table
1 for export credit guarantee data and P.L. 480, Title I, by value from FY1992 to
FY2002.)

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Figure 1. Export Credit Guarantee Programs,
Commodity Value, FY1992-FY2002
6,000
5,000
4,000
3,000
2,000
1,000
0
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
FGP
SCGP
GSM-103
GSM-102
Source: USDA.
Table 1. CCC Export Credit Guarantee Programs and Title I,
FY1992-FY2002
($ million)
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
CCC Credit
5,684
3,882
3,220
2,921
3,230
2,876
4,037
3,045
3,082
3,227
3,388
Programs
Short-term
Guarantees
5,596
3,643
3,080
2,772
3,079
2,809
3,963
2,955
2,928
2,959
2,936
(GSM-102)
Intermediate-
term
88
239
140
149
151
63
56
44
33
42
0
Guarantees
(GSM-103)
Supplier
Credit
0
0
0
0
0
4
18
46
116
226
452
Guarantees
Facilities
Financing
0
0
0
0
0
0
0
0
5
0

0
Guarantees
P.L. 480,
374
333
218
172
219
153
164
687
157
105
102
Title I
Source: USDA.

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As shown in Figure 2, P.L. 480, Title I spending has declined overall, except
for a spike in FY1999, due to an augmenting of P.L. 480 appropriations with $700
million of CCC funds to provide food aid to Russia. The Secretary of Agriculture on
November 6, 1998, announced a food assistance package in which about 1.4 million
metric tons of agricultural products valued at approximately $507.6 million were sold
through Title I to Russia in FY1999. In FY2002, Title I funds were $102 million,
approximately one-third of the amount in FY1992 of $374 million.
Figure 2. P.L. 480, Title I, by Commodity Value,
FY1992-FY2002
700
600
500
400
300
200
100
0
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
Source: USDA.
Commodities Provided by Programs, FY1992-FY2002
U.S. exporters can sell any agricultural commodity (bulk or high value products)
using export credit guarantee programs, as long as the commodity is produced in the
United States. Although the commodity types are similar (i.e., feed grains or
oilseeds) from year to year, the commodity mix (i.e., corn or soybeans) varies each
year because it is determined by the needs of the importers. (See Appendix A for a
list of commodities exported using export credit guarantee programs and P.L. 480,
Title I, for FY1992 and FY2002.)
As shown in Figure 3, in FY1992 wheat accounted for 33% of total agricultural
commodity sales using export credit guarantee programs; corn accounted for 19% of
the total; and the “Other” category accounted for 15% of the total. Table 2 shows
the top 10 export credit commodities by value for FY1992.

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Figure 3. Export Credit Guarantee Program Commodities
by Value, FY1992
Wheat
32.5%
Corn
18.6%
Soybeans
Other
12.2%
14.9%
Soybean Meal
Cotton
10.5%
4.3%
Grain Sorghum
7.0%
Other includes: Almonds, Barley, Barley Malt, Barley Malting, Dry Beans, Beef Meat, Butter Oil, Cattle Hides, Cattle Beef Breed,
Cattle Dairy Breed, Cheddar Cheese, Chinchilla Skins, Corn Gluten Meal, Corn Oil, Corn Starch, Cottonseed, Cottonseed Meal,
Cottonseed Oil, Coyote Skins, Feed Grains, Grease Yellow, Hops, Lambskins/Sheepskins, Lumber, Meat/Bone Meal, Milk, Nonfat
Dry, Mink Skins, Oilseeds, Peanut Oil, Peanuts, Peas Dry, Planting Seeds, Plywood, Pork Meat, Pork Offal, Poultry Meat, Protein
Meals, Raccoon Skins, Rice, Soybean Oil, Sunflowerseed Oil, Swine Breeding, Table Eggs, Tallow, Utility Poles, Vegetable Oil,
Veneer, Wheat Flour, White Corn, Whole Milk Powder, Wood Pulp.
Source: USDA.
Table 2. Top 10 Export Credit Guarantee Program Commodities
by Value for FY1992a
($ million)
Commodity
GSM-102
GSM-103
Total
Wheat
1,810
34
1,844
Yellow Corn
1,017
40
1,057
Soybeans
690
0
690
Soybean Meal
594
1
595
Grain Sorghum
397
0
397
Cotton
245
0
245
Soybean Oil
103
0
103
Rice
68
0
68
Sunflowerseed Oil
92
0
92
Tallow
74
0
74
Source: Foreign Agricultural Service, USDA.
a SCGP and FGP had not been established in FY1992.

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As shown in Figure 4, in FY2002, feed grains (which include corn) accounted
for 25% of total agricultural commodity sales using export credit guarantee
programs; oilseeds accounted for 22% of the total; and wheat for 21% of the total.
Figure 4. Export Credit Guarantee Program Commodities
by Value, FY2002
Oilseeds
Feed Grains
22.4%
24.7%
Other
Wheat
10.4%
20.7%
Vegetable Oil
3.9%
Cotton
Protein Meals
6.9%
10.9%
Other includes: Alcoholic Beverage, Animal Fat Blends, Animal Feed Products, Aquaculture Feed, Beverages, Breakfast Cereal,
Cattle-Slaughter, Condiments, Corn Products, Cotton Fabrics, Cotton Yarn, Dairy Products, Distil ers Dry Grain, Fish and Shellfish,
Fruit Juice, Fruit Juice Concentrates, Fruit-Canned, Fruit-Dried, Fruit-Fresh, Grocery Items, Hides and Skins, Leather, Lyocell, Meat
and/or Meat Products, Meat-Beef, Meat-Beef Offals, Meat,-Lamb, Meat-Pork, Meat-Pork Offals, Meat,-Poultry, Meat-Processed,
Planting Seeds, Pulses, Rice, Snack Foods, Soup, Dehydrated Instant, Soybean Meal, Soybeans, Tallow, Tree Nuts, Wine, Wood
Products-Solid, Wood Pulp, Yellow Grease.
Source: USDA.
Table 3 shows the top 10 export credit guarantee program commodities by
value for FY2002.
Table 3. Top 10 Export Credit Guarantee Program Commodities
by Value for FY2002
($ million)
Commodity
GSM-102
GSM-103a
SCGP
FGPa
Total
Feed Grains
726
0
112
0
838
Oilseeds
622
0
138
0
760
Wheat
657
0
46
0
702
Protein Meals
361
0
9
0
370
Cotton
231
0
4
0
235
Vegetable Oil
125
0
6
0
131
Rice
66
0
34
0
100
Tallow
61
0
2
0
63
Meat, Beef
27
0
22
0
49
Meat, Beef Offals
6
0
17
0
23
Source: Foreign Agricultural Service, USDA.
a There were no exporter applications for GSM-103 nor FGP in FY2002.

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As shown in Figure 5, in FY1992, wheat accounted for 47% of all Title I sales;
corn accounted for 15% of the total; and soybean meal for 13%. In FY2002, rice
accounted for 42% of all Title I sales; wheat accounted for 36% of the total; and
soybean meal accounted for 12% of the total. Rice’s share increased dramatically
from 8% of the total in FY1992 to 42% in FY2002. Wheat decreased from 47% of
the total in FY1992 to 36% in FY2002. Several commodities (corn, cotton, tallow,
wheat flour, and vegetable oil) that were exported in FY1992 under Title I did not
appear in FY2002. This could reflect governments’ decisions not to purchase these
items in FY2002 due to changes in needs, preferences, or purchasing power.
Figure 5. P.L. 480, Title I Commodities by Value,
FY1992 and FY2002
FY1992
FY2002
Cotton
2.7%
Tallow
2.1%
Corn
Rice
Soybean Meal
15.0%
41.9%
12.6%
Vegetable Oil
10.2%
Wheat Flour
2.1%
Soybeans
Rice
Wheat
9.8%
7.8%
Wheat
36.4%
Soybean Meal
47.5%
11.8%
Source: USDA.
Regions Receiving Commodities, FY1992 and FY2002
Importers in over 100 countries have used GSM-102, GSM-103, and SCGP to
purchase U.S. agricultural products. Each year the number of countries participating
in the export credit program varies due to need and purchasing power. This report
uses FAS’s commercial credit country groups. These groups are: Asia; Central
America and the Caribbean; South America; North Africa and the Middle East; and
the Former Soviet Union. The one exception to using FAS groups is that Mexico is
cited in place of the North America group, since it was the only country listed under
North America that used export credit guarantee programs for FY1992 and FY2002.
“Other” contains Eastern Europe, Western Europe, and Subsaharan Africa. (See
Appendix B for a list of countries under each region that used export credit
guarantee programs and P.L. 480, Title I, in FY1992 and FY2002.)

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As shown in Figure 6, in FY1992, the Former Soviet Union accounted for 46%
of the total agricultural export share by regions using the export credit guarantee
program; Mexico accounted for 23% of the total; and North Africa and the Middle
East accounted for 13% of the total.
Figure 6. Value of Agricultural Exports Received by Region
through Export Credit Guarantee Programs, FY1992
Central America & Caribbean
Former Soviet Union
1.0%
45.6%
Asia
13.6%
South America
2.0%
Other
1.9%
North Africa & Middle East
12.9%
Mexico
23.1%
Other contains Eastern Europe, Western Europe, and Subsaharan Africa.
Source: USDA.
As shown in Figure 7, in FY2002, Asia accounted for 25% of the total
agricultural export share by regions using the export credit guarantee program;
Central America and the Caribbean accounted for 21% of the total; and South
America accounted for 19% of the total. The increase of Asia’s export share from
FY1992 to FY2002 reflects China’s use of the export credit guarantee program in
FY2002. Sales to Central America and the Caribbean increased greatly from 1% in
FY1992 to 21% in FY2002. The decrease in the former Soviet Union’s share from
46% in FY1992 to less than 1% in FY2002 reflects changes made by economic
reforms in the former Soviet Union. These reforms decreased the size of the
livestock sector and lowered the demand for feed grains, soybeans, and meal.
Mexico’s share has decreased slightly from 23% in FY1992 to 18% in FY2002.
North Africa and the Middle East’s export share increased slightly by 3% from
FY1992 to FY2002. South America’s export share increased from 2% in FY1992
to 19% in FY2002. Regions that make up the other category’s export share
decreased slightly from FY1992 to FY2002. Table 4 shows the value of the export
credit guarantee programs by region and program for FY1992 and FY2002.

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Figure 7. Value of Agricultural Exports Received by Region
through Export Credit Guarantee Programs, FY2002
Central America & Caribbean
Asia
21.3%
25.3%
Former Soviet Union
0.3%
Mexico
17.6%
South America
19.2%
North Africa & Middle East
Other
15.5%
0.8%
Other contains Eastern Europe, Western Europe, and Subsaharan Africa.
Source: USDA.
Table 4. Value of Export Credit Guarantee Program by Region,
FY1992a and FY2002
($ million)
Region
GSM-102
GSM-103 SCGP
Total
FY1992
FY2002
FY1992
FY2002
FY1992
FY2002
Asia
772
778
0
81
772
859
Central America &
50
680
4
41
55
721
Caribbean
Former Soviet Union
2,585
3
0
7
2,585
11
Mexico
1,305
309
4
287
1,310
595
North Africa &
659
511
74
14
733
525
Middle East
Otherb
106
5
0
20
106
26
South America
113
650
0
2
113
652
Total
5,590
2,936
83
452
5,672
3,388
Source: Foreign Agricultural Service, USDA.
a SCGP and FGP had not been established in FY1992.
b “Other” contains Eastern Europe, Western Europe, and Subsaharan Africa.

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As shown in Figure 8, in FY1992, North Africa and the Middle East accounted
for 32% of P.L. 480, Title I sales; Central America and the Caribbean accounted for
20% of the total; and “Other” accounted for 19% of the total.
Figure 8. Value of Agricultural Exports Received by Region
through P.L. 480, Title I, FY1992
North Africa & Middle East
32.2%
South America
3.8%
Central America & Caribbean
Asia
19.8%
8.8%
Former Soviet Union
16.1%
Other
19.3%
Other contains Eastern Europe, western Europe, and Subsaharan Africa.
Source: USDA.
As shown in Figure 9, in FY2002, Asia accounted for 54% of P.L. 480, Title I
sales; the Former Soviet Union accounted for 16% of the total; and South America
accounted for 14% of the total. Asia’s export share increased from 9% in FY1992
to 54% in FY2002, which reflects Pakistan and Indonesia’s use of Title I to purchase
agricultural products. Central America and the Caribbean’s export share decreased
by about half from FY1992 to FY2002. Some countries, such as Jamaica and El
Salvador, in the Central America and Caribbean region did not use Title I to purchase
agricultural products in FY2002. And other countries, such as Guatemala and
Ecuador, purchased fewer agricultural products through Title I in FY2002. North
Africa and the Middle East did not use Title I in FY2002 to purchase agricultural
commodities. The “Other” category’s export share decreased from 19% in FY1992
to 7% in FY2002. Of the regions in the “Other” category, Western Europe did not
use Title I in either year, Eastern Europe used Title I in FY1992, and Subsaharan
Africa used the program both years. Table 5 shows the value of P.L. 480, Title I, by
region for FY1992 and FY2002.

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Figure 9. Value of Agricultural Exports Received by Region
through P.L. 480, Title I, FY2002
Other
Former Soviet Union
6.5%
15.7%
Central America & Caribbean
10.2%
South America
13.9%
Asia
53.7%
Other contains Eastern Europe, Western Europe, and Subsaharan Africa.
Source: USDA.
Table 5. Value of P.L. 480, Title I, by Region
for FY1992 and FY2002
($ million)
Region
1992
2002
Asia
33
15
Central America & Caribbean
74
17
Former Soviet Union
60
58
Mexico
0
11
North Africa & Middle East
120
0
Other
72
7
South America
14
0
Total
374
108
Source: USDA.

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Export Credit Guarantee Programs and P.L. 480, Title I,
as a Percentage of U.S. Agricultural Exports
As shown in Figure 10, overall, export credit guarantee programs and P.L. 480,
Title I as a percent of U.S. agricultural exports declined from 14% in FY1992 to just
under 6% in FY1997, then rose to 8% in FY1998. From FY1998 to FY2002, export
credit guarantee programs and P.L. 480, Title I as a percent of U.S. agricultural
exports remained between 8% and 6%. Export credit guarantee programs and P.L.
480, Title I, accounted for 7% of total agriculture exports in FY2002. Table 6 shows
data on U.S. agricultural exports by value for FY1992 to FY2002.
Figure 10. Export Credit Programs and P.L. 480, Title I,
as a Percent of U.S. Agricultural Exports, FY1992-FY2002
16%
14%
12%
10%
8%
6%
4%
2%
0%
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
Source: USDA.

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CRS-13
Table 6. CCC Export Credit Guarantee Programs, P.L. 480, Title I,
and U.S. Agricultural Exports, FY1992-FY2002
($ million)
CCC Export
CCC Export Credit
Total
Credit
P.L. 480,
Guarantee Programs and
Year
Agricultural
Guarantee
Title I
P.L. 480, Title I Share of
Exports
Programs
Total Agricultural Exports
1992
5,684
374
42,651
14%
1993
3,882
333
42,887
10%
1994
3,220
218
43,967
8%
1995
2,921
172
54,729
6%
1996
3,230
219
59,867
6%
1997
2,876
153
57,338
5%
1998
4,037
164
53,711
8%
1999
3,045
687
49,148
8%
2000
3,082
157
50,798
6%
2001
3,227
105
52,699
6%
2002
3,388
102
53,294
7%
Source: USDA.

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CRS-14
Appendix A. Export Credit Guarantee Program and P.L. 480, Title I
Commodity Mix during FY1992 and FY2002a
Alcoholic Beverage
Cottonseed
Meat, Pork Offals
Table Eggs
Almonds
Cottonseed Meal
Meat, Poultry
Tallow
Animal Fat Blends
Cottonseed Oil
Meat, Processed
Tree Nuts
Animal Feed Products
Coyote Skins
Meat/bone Meal
Utility Poles
Aquaculture Feed
Dairy Products
Milk, Nonfat Dry
Vegetable Oil
Barley
Distillers Dry Grain
Mink Skins
Veneer
Barley Malt
Feed Grains
Oilseeds
Wheat
Barley, Malting
Fish and Shellfish
Peanut Oil
Wheat Flour
Beans, Dry
Fruit Juice
Peanuts
White Corn
Beef Meat
Fruit Juice Concentrates
Peas, Dry
Whole Milk Powder
Beverages
Fruit, Canned
Planting Seeds
Wine
Breakfast Cereal
Fruit, Dried
Planting Seeds
Wood Products, Solid
Butter Oil
Fruit, Fresh
Plywood
Wood Pulp
Cattle Hides
Grain Sorghum
Pork Meat
Yellow Corn
Cattle, Beef Breed
Grease, Yellow
Pork Offal
Yellow Grease
Cattle, Dairy Breed
Grocery Items
Poultry Meat
Cattle, Slaughter
Hides and Skins
Protein Meals
Cheddar Cheese
Hops
Pulses
Chinchilla Skins
Lambskins/sheepskins
Raccoon Skins
Condiments
Leather
Rice
Corn Gluten Meal
Lumber
Snack Foods
Corn Oil
Lyocell
Soup, Dehydrated
Instant
Corn Products
Meat/Meat Products
Soybean Meal
Corn Starch
Meat, Beef
Soybean Oil
Cotton
Meat, Beef Offals
Soybeans
Cotton Fabrics
Meat, Lamb
Sunflowerseed Oil
Cotton Yarn
Meat, Pork
Swine, Breeding
Source: USDA.
a This data represents commodities exported using GSM-102, GSM-103, SCGP, and P.L. 480, Title I
credits during FY1992 and FY2002. Not all commodities were purchased both years nor were all
programs used both years.

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CRS-15
Appendix B. Countries That Used Export Credit Guarantee
Programs and P.L. 480, Title I, during FY1992 and FY2002a
Asia
China
Malaysia
Sri Lanka
India
Pakistan
Taiwan
Indonesia
Papua New Guinea
Thailand
Japan
Philippines
Korea
Singapore
Central America and the Carribean
Barbados
Guatemala
Panama
Belize
Guyana
Trinidad & Tobago
Costa Rica
Haiti
St. Lucia
Dominican Republic
Honduras
St. Vincent & Grenadines
El Salvador
Jamaica
Grenada
Nicaragua
Eastern Europe
Bosnia
Czech Republic
Romania
Bulgaria
Hungary
S. Balkans/Kosovo
Croatia
Poland
Slovenia
Former Soviet Union
Belarus
Lithuania
Ukraine
Estonia
Moldova
Uzbekistan
Kazakhstan
Russia
Latvia
Tajikistan
North Africa and the Middle East
Algeria
Jordan
Tunisia
Egypt
Lebanon
Turkey
Israel
Morocco
Yemen

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CRS-16
South America
Argentina
Colombia
Suriname
Bolivia
Ecuador
Uruguay
Brazil
Guyana
Venezuela
Chile
Peru
Subsaharan Africa
Angola
Gabon
Nigeria
Benin
Gambia
Rwanda
Botswana
Ghana
Senegal
Burkina Faso
Guinea-Bissau
Seychelles
Burundi
Guinea
Sierra Leone
Cameroon
Kenya
South Africa
Cape Verde
Lesotho
Swaziland
Central African Republic
Liberia
Togo
Chad
Mali
Zambia
Congo
Mozambique
Zimbabwe
Cote d’Ivoire
Nambia
Eritrea
Niger
Western Europe
Austria
Greece
Portugal
Belgium
Iceland
Spain
Denmark
Ireland
Sweden
Finland
Luxembourg
United Kingdom
France
Netherlands
Germany
Norway
Source: USDA.
a This data represents countries and regions that used GSM-102, GSM-103, SCGP, FGP, and P.L. 480,
Title I credit during FY1992 and FY2002. Not all countries used all of these programs, nor did all
of these countries use these programs in both FY1992 and FY2002.

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