USA EXPORT IMPORT STATISTICS

USA EXPORT IMPORT STATISTICS

USA Export Import Balance

Until a few years ago, the US was at the forefront of free trade. On the other hand, the US is the world's largest foreign trade deficit with a foreign trade deficit of nearly 900 billion dollars.

Donald Trumph continues to be the subject of criticism with export-import strategies, which he applies to close the foreign trade deficit.

The United States, which has been unanimously approved by the World Trade Organization and unanimously approved the rules of free trade, imposes unilateral tax increases and quotas on many countries. The ongoing trade war with China, the crises with Naphtha and the EU are examples of this.

In March 2018, US President Donald Trump announced that additional taxes would be imposed on imports of steel and aluminum. The US, which imported 4 times of its steel and reduced its production from 112 million tons to 86 million tons compared to the year 2000, was planning to reduce steel imports by reducing the current account deficit and increasing the steel production and increasing the employment in the steel sector. Domestic production and employment figures in the steel sector may have increased, but cost prices have increased in many areas, from steel to construction, where the steel mine is used as a raw material.

Top USA Export Countries

Canada: 282 million USD
Mexico: 243 million USD
China: 129 million USD
Japan: 67 million USD
United States:  56 million USD
Germany:  53 million USD
Republic Korea:  48 million USD
Netherlands:  41 million USD
Hong Kong:  40 million USD
Brazsil: 37 million USD

US foreign trade balance

In 2017, the US exported 1.54 trillion USD. However, imports amounted to USD 2.4 trillion. The resulting foreign trade deficit is about 860 billion USD.

The United States has the most trade deficit: automobile, crude oil and smart phones. The US imports the imported crude oil as a processed petroleum product by re-processing. However, products such as cars, smart phones and computers are only consumed in the domestic market. The imports of auto parts in the list increased by 102.7% between 2016 and 2017, the highest increase in foreign trade deficit.

US Most Foreign Trade Deficit Products

  1. Automobile products: -126 billion USD 
  2. Crude oil Products: - 117.2 billion USD 
  3. Smartphones and telephone devices: - 79.1 billion USD 
  4. Computers and Optical Readers: - 59.6 billion USD
  5. Drug: - 44.9 billion USD 
  6. Furniture: - 22.4 billion USD 
  7. Automobile accessories and components: - 21.7 billion USD 
  8. Seat (excluding barber and dental chair): - 20.4 billion USD 
  9. TV receiver, monitor / projector: - 19.8 billion USD 
  10. Turbo jets: - 14 billion USD

US foreign trade surplus

The USA is the world's largest exporter after China. The USD 1.54 trillion export figure shows the export power of the US. The US also exports more than 700 billion USD, making it the world's largest exporter of services.
The products that the US exports higher than imports determine the products with foreign trade surplus. The following list was prepared accordingly.

US foreign trade surplus products

  1. Processed petroleum products: 29.9 billion USD
  2. Soybean: 21.2 billion USD
  3. LPG: 10.8 billion USD
  4. Machines: 9.7 billion USD
  5. Coal: 9.2 billion USD
  6. Egypt: 9.1 billion USD
  7. Gold (unprocessed): 8.7 billion USD
  8. Hazelnut: 7 billion USD
  9. Cotton (without card, uncomfortable): 5.8 billion USD
  10. Wheat: 5.4 billion USD

COMMENTS

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BUSINESS,7,COUNTRIES,13,ECONOMY,4,EDUCATION,2,EXPORT,2,FOREIGN TRADE,7,IMPORT,2,INCOTERMS,13,LOGISTICS,17,MARKETING,3,US STATES,8,US VISA,7,
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