5-06-2024 11:14pm

World Trade Month, May 2024!

Lorraine Mabbett Editor

The U.S. trade deficit in 2022 equates to $948.1 billion imported more than it exported. However, Mexico not China is America’s top trade partner at the start of 2023.

Who do we export to?

$2,747 million to Canada (17% of total exports)
- 34 states export to Canada
Mexico
China
Japan
United Kingdom

The U.S. is the 2nd largest exporter, $2.1trillion in 2022 which is 8.4% of global exports. Whereas, China exports $3.6 trillion which is 14% of all global exports. World Trade Month

The top exports of United States are Refined Petroleum ($138B), Crude Petroleum ($118B), Petroleum Gas ($116B), Cars ($57.5B), and Integrated Circuits ($49.8B), exporting mostly to Canada ($308B), Mexico ($294B), China ($151B), Japan ($79.5B), and United Kingdom ($75.4B).

In 2022, United States was the world's biggest exporter of Refined Petroleum ($138B), Medical Instruments ($33.3B), Gas Turbines ($32.5B), Planes, Helicopters, and/or Spacecraft ($27.6B), and Corn ($19.3B)

United States (USA) Exports, Imports, and Trade Partners | The Observatory of Economic Complexity (oec.world)

According to macrotrends. U.S. Exports 1960-2024 | MacroTrends. Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments. Data are in current U.S. dollars.

U.S. exports for 2022 was $2,995.05B, a 17.45% increase from 2021.
U.S. exports for 2021 was $2,550.04B, a 18.6% increase from 2020.
U.S. exports for 2020 was $2,150.11B, a 15.3% decline from 2019.
U.S. exports for 2019 was $2,538.45B, a 0.01% increase from 2018.

In 2015, our exports totaled $2.23 trillion.

Consider Taking Your Business Global This World Trade Month | U.S. Small Business Administration (sba.gov)

U.S. exports are a vital piece of the nation’s economy. If you’re considering going global, visit sba.gov/international.

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