Main article: US economy
Trade with countries
Trade with Russia
Main article: Trade between Russia and the United States
Trade with China
Main article: China-US trade
Trade in goods
Import and export of oil and gas
Main article: Import and export of oil and gas to the United States
2024
Energy is the main import item from Canada
Trade deficit growth to $75.1 billion in May
The US trade deficit increased in May 2024 to $75.1 billion.
Earlier, the US trade deficit increased in April 2024 to the largest since October 2022 (by 8.7%, to $74.6 billion), amid a sharp increase in imports of goods, including cars, computers and industrial goods.
US once again the biggest consumer of exports from Taiwan after 20 years of China leadership
In the spring of 2024, the United States again became the largest destination for Taiwanese exports after decades during which China topped this list.
2023
First place in imports ($3.17 trillion)
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Second place in exports ($2.01 trillion)
Record trade deficit due to continued high imports
The September 2023 U.S. trade deficit widened more than expected, reflecting low interest from other countries in U.S. goods with rising domestic consumption of imported goods.
The US trade deficit with China narrowed to its lowest level since 2010 at the end of 2023.
The narrowing gap reflects a broader reorganization of supply chains.
The US trade deficit with other countries has reached a record high.
Mexico formally bypassed China to become the largest US trading partner
China is circumventing American languid tariffs by shipping more goods through Mexico.
The data suggests difficulties for the U.S. in displacing Chinese exporters from American supply chains.
Slight reduction in trade with the EU
Trade deficit with Germany
The United States is significantly inferior to China and the EU in terms of exports to developing regions
Gun exports raise crime rates in many countries
A Bloomberg investigation published in January 2024 linked U.S. arms exports to rising crime worldwide.
The US presidential administration Biden plans to impose the toughest restrictions on arms exports in decades.
Share of imports from Mexico - up to 15% - 30-year record
In July 2023, the share of imports of goods from Mexico to the United States rose to an average of 15%, the highest in 30 years.
Billions of dollars are pouring into America's southern neighbor.
Pressure on 7 trading partners to control their exchange rates
The US Treasury said in June 2023 that seven major economies, including China, are on its "monitoring list" of foreign exchange transactions, while refraining from specifying any trading partner as a currency manipulator in a semi-annual report.
This report, produced by decision of the US Congress, is designed to put pressure on trading partners who are considered to artificially restrain their exchange rates in order to gain competitive advantages. But in 2022, the dollar strengthened amid the Fed's tightening monetary policy.
"Most currency interventions by U.S. trading partners in 2022 were in the form of selling dollars, which helped strengthen their currencies," Treasury Secretary Janet Yellen said in a statement. "Nevertheless, the Ministry of Finance remains vigilant about the currency practices and political settings of countries and their compliance with strong sustainable and balanced global growth."
China South Korea Germany,,,,, and Malaysia Singapore Switzerland were Taiwan included in a "checklist" of economies that "deserve close attention to their currency practices and macroeconomic policies," Japan which was on that list in a report published in November, was excluded.
5th in the world in terms of wheat exports
US imports more goods from Europe than China
2022
The US share in world exports is 10%. G7 countries are the main export destination
Record trade with the EU - more than $880 billion
Maintaining the volume of passenger car exports
Rising trade deficit to a record $948.1 billion
The US trade deficit grew in 2022 to $948.1 billion, which is $103 billion more than in 2021 ($845 billion) and is the largest gap on record.
Exports of goods and services throughout the range amounted to over $3 trillion in 2022 against 2.55 trillion in 2021, where goods were exported by 2.08 trillion/1.76 trillion a year earlier, and services - 924 billion/795 billion dollars.
Imports of goods and services rose sharply to 3.96 trillion against 3.4 trillion in 2021, where goods were imported in 2022 by 3.28 trillion/2.85 trillion in 2021, and services 680 billion/550 billion.
As a result, the commodity deficit amounted to 1.2 trillion/1.09 trillion a year earlier, and a surplus of $243 billion was recorded for services, which is comparable to 2021.
In the second half of the year, the United States significantly improved the trade balance, because in the first half of the year the average monthly deficit was $89 billion, reaching 106 billion in March, and in the second half of the year the deficit averaged 69 billion per month.
The oil and gas sector provided the United States with 17.6% in the export of goods (a record share in history) compared to 13.4% in 2021, and in the structure of export growth for the year, oil and gas formed over 40% of the total export growth ($132 billion from $324 billion). For more details, see US oil and gas imports and exports.
Arms export growth by 49% to $51.9 billion amid conflict in Ukraine
In 2022, the United States increased arms sales abroad by 49.1% compared to the previous year ($51.9 billion against $34.8 billion) - the US State Department.
Forecast for decline in wheat exports
In October 2022, the world desperately needs more grain to help contain rampant food inflation, but there are signs that the US, one of the main producers, will supply the fewest wheat in 50 years.
The rise of trade with Russia's neighbors due to bypassing US sanctions against the Russian Federation
The rapid growth of trade flows USA EU with neighbors Russia may be a sign that sanctions can be avoided, believes. European Bank for Reconstruction and Development
German exports to Russia from May to July 2022 fell 38% compared to the average for the same period in 2017-2019. However, it almost doubled to Armenia and more than tripled to Kyrgyzstan - a trend also seen in trade flows to the Caucasus and Central Asia from the US, Britain and EU countries.
Record trade deficit in March - $109 billion
The U.S. trade deficit rose to a record high in March 2022, reflecting a surge in imports as companies relied on foreign producers to meet strong domestic demand.
No. 5 in the world in terms of rice exports
2021
The United States is the leader in arms exports for 5 years with a share of 38.6%
US falls several times behind China on trade with Africa
Record monthly trade deficit
In November 2021, the US trade deficit increased to a record level, amid the growth of imports to a record level.
The deficit widened to $97.8 billion dollars in November from a revised $83.2 billion in October, according to Commerce Department data. This figure exceeded all estimates made in the survey of economists.
Leadership in grain exports
Third place in coal supplies to Europe
For 2021 Russia , it sends most of its coal to Asia, as Europe avoids this fuel. At the same time, Russia remains the largest supplier of coal to the country. Europe
Trade boom with South Korea and Taiwan
2020
US - in the top ten exporters of wheat with an indicator of 26.1 million tons
Trump's Efforts to Reduce Trade Deficits Have Failed: Record Deficits Since 2008
In 2020, the United States recorded the largest annual trade deficit since 2008.
The COVID-19 pandemic played a key role in destroying US President Donald Trump's four-year drive to balance the deficit as Covid-19 limited demand.
to trade The goods and services gap widened to dollars 678.7 billion in 2020 from $576.9 billion in 2019.
The commodity-trade deficit grew to $915.8 billion by 2020, the largest since this type of statistics began in 1961, while the country's service surplus fell 18% to $237.1 billion, the smallest since 2012.
2019
Exporting Computer Devices
Major Import and Export Items
The negative impact of the Trump administration's trade restrictions on the U.S. economy
Any US trade relationship with trading partners resulted in commensurate and generally proportional responses, both in China and Europe.
Tariffs on Chinese goods and other imported products have pushed up prices for American consumers. A significant part of the tariffs was shifted to the prices of goods. The entire increase in tariffs was directly displayed in the final prices, which is equivalent to taking $700-900 a year out of the pocket of the average American household (only under Chinese sanctions).
The average nominal increase in wages was about 2.5 times less than the increase in prices in the sanctions group of goods.
American exporters, especially those from the agricultural sector, have suffered from reduced access to foreign markets (mainly to China). The Trump administration provided more than $28 billion from 2018 to 2020 (2.5 times more than the car sector rescue program in 2009) in the form of direct payments to farmers to compensate for losses from trade wars, which exceeds the potential benefit of the initiated sanctions against China.
The steel and aluminum tariffs had little or no impact on the American steel industry. However, industries using steel and aluminum as raw materials (for example, automotive, construction, mechanical engineering) faced an increase in costs. This led to higher prices for end products or reduced profits. The integral effect taking into account the binding costs was negative.
2018
The third largest wheat export in the world
Map of countries with a deficit and surplus in trade with the United States
Export-leading states
Texas is the largest exporter among the US states at the end of 2018. The largest Texas export was oil and oil products, which accounted for 33 percent of Texas exports. Other goods shipped overseas from the state were computer components, aircraft parts and integrated circuits. Cotton still accounted for one percent of Texas exports.
Among the leaders in the export of pyrotechnics
2015
In the top ten largest global exporters of apples with a share of 14.6%
Arms Export Map
See also
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