Foreign Trade in Numbers The US has generally reduced trade barriers and is in coordination with other countries in the global econom...
Foreign Trade in Numbers
The US has generally reduced trade barriers and is in coordination with
other countries in the global economic order. The United States sees trade as a
tool for promoting economic growth, social stability and democracy in all
countries, but also for improving international relations.
However, Donald Trump questioned the relevance of these principles after his election as president. The USA is the world's second largest importer and the first exporter and the largest exporter and exporter of services. Nevertheless, the share of trade in GDP is only 27%.
However, Donald Trump questioned the relevance of these principles after his election as president. The USA is the world's second largest importer and the first exporter and the largest exporter and exporter of services. Nevertheless, the share of trade in GDP is only 27%.
The US trade balance is structurally open and has worsened in recent
years. In 2017, foreign trade deficit widened by 8.1% compared to the previous
year (25% compared to 2010) to 862.7 billion USD. Exports were at the level of
1.54 trillion USD (6.6% increase compared to 2016).
The main export items of the USA were petroleum products, automotive, car parts and accessories, electronic circuits and mobile phones. The main foreign trade partners of the United States are Mexico and Canada, China and Japan. In 2017, imports amounted to USD 2,43 trillion. Among the most imported products are cars, telephone devices, computers and automotive parts.
The main export items of the USA were petroleum products, automotive, car parts and accessories, electronic circuits and mobile phones. The main foreign trade partners of the United States are Mexico and Canada, China and Japan. In 2017, imports amounted to USD 2,43 trillion. Among the most imported products are cars, telephone devices, computers and automotive parts.
USA MAJOR EXPORT PRODUCTS
- Machinery, mechanical appliances: 202 million USD
- Electrical machinery and equipment: 174 million USD
- Mineral fuels, mineral oils: 139 million USD
- Aircraft, spacecraft, and parts thereof: 131 million USD
- Vehicles other than railway or tramway rolling stock: 130 million USD
- Optical, photographic, cinematographic, measuring: 83 million USD
- Plastics and articles thereof: 61 million USD
- Natural or cultured pearls, precious Stones metals: 60 million USD
- Pharmaceutical products: 44 million USD
- Commodities not elsewhere specified: 42 million USD
USA MAJOR IMPORT PRODUCTS
- Electrical machinery and equipment: 356 million USD
- Machinery, mechanical appliances: 349 million USD
- Vehicles other than railway or tramway rolling stock: 294 million USD
- Mineral fuels, mineral oils: 204 million USD
- Pharmaceutical products: 96 million USD
- Commodities not elsewhere specified: 91 million USD
- Optical, photographic, cinematographic, measuring: 86 million USD
- Furniture; bedding, mattresses: 67 million USD
- Natural or cultured pearls, precious Stones metals: 59 million USD
- Plastics and articles thereof: 54 million USD
USA MAJOR EXPORT SERVICES
- Memo item: Commercial services: 761 million USD
- Travel: 203 million USD
- Other business services: 149 million USD
- Charges for the use of intellectual property: 127 million USD
- Financial services 106 million USD
- Transport: 86 million USD
- Telecommunications, computer & information services: 38 million USD
- Maintenance and repair services: 25 million USD
USA MAJOR IMPORT SERVICES
- Memo item: Commercial services: 516 million USD
- Travel: 135 million USD
- Transport: 101 million USD
- Other business services: 100 million USD
- Insurance and pension services: 49 million USD
- Charges for the use of intellectual property: 48 million USD
- Telecommunications, computer & information services: 40 million USD
- Financial services: 27 million USD
USA MAJOR COMMERCIAL COUNTRIES
Main Export Countries
- Canada 18.3% - 282 million USD
- Mexico 15.9% - 243 million USD
- China 8.0% - 129 million USD
- Japan 4.4% - 67 million USD
- United Kingdom 3,8% - 56 million USD
- Germany 3.4% - 53 million USD
- South Korea 2% - 48 million USD
- Netherlands 2.8% - 41 million USD
- Hong Kong 2.4% - 39 million USD
- France 2.2% - 37 million USD
Main Import countries
- China 21.4% - 526 million USD
- Mexico 13.2% - 37 million USD
- Canada 12.6% - 306 million USD
- Japan 6.0% - 139 million USD
- Germany 5.2% - 120 million USD
- South Korea 3.2% - 73 million USD
- United Kingdom 2.5% - 54 million USD
- France 2.1% - 51 million USD
- India 2.1% - 50 million USD
- Italy 2.1% - 50 million USD
COMMENTS