According to The Office of the United States Trade Representative, the U.S. is the second-largest international trading nation in the world, after China. Being aware of which countries are the biggest American trading partners can help us with investment decisions at home and abroad. It can also help us better understand U.S. foreign policy strategy and how essential international engagement is to maintaining our way of life. The information in this article is from The Office of the United States Trade Representative and Statistica.
24/7 Wall St. Insights
- The top U.S. export is oil and the top import is passenger vehicles.
- America’s most profitable trading partners are close to home.
- Also: 2 Dividend Legends To Hold Forever
Top U.S. Exports
The main U.S. exports are oil, aircraft and parts, gasoline, natural gas, and cars. As a result of fracking technology, the United States is now the world’s leading oil producer, surpassing Russia and Saudi Arabia in the second and third places.
Top U.S. Imports
The main products the United States imports are cars, oil, cell phones, computers, medicines, and auto parts. The most popular imported cars are the Toyota Corolla, Honda Civic, Volkswagen Golf, Hyundai Elantra, and Nissan Rogue.
The United States’ Main Trading Partners
In 2022, the United States exported $2.1 trillion in goods and imported $3.2 trillion. The United States’ main trading partners are intertwined with our economy in innumerable ways. From producing raw materials to manufacturing, transportation, banking and insurance services, computer networking, and commercial distribution, unlinking these trade networks would be as disruptive as trying to break the economic links between individual American states.
5. Japan
- Trade Value: $223 billion
- Imports from Japan: $147 billion. Top imports: machinery, mechanical appliances, transportation equipment, chemicals, transportation, plastics, rubber.
- Exports to Japan: $76 billion. Chemicals, plastics, rubber, leather goods, agricultural products, oil, minerals, lime, cement.
4. Germany
- Trade value: $236 billion
- Imports from Germany: $160 billion. Top imports: boilers, machinery, electrical equipment, precious stones, pharmaceuticals, medical equipment, iron, steel, and aluminum.
- Exports to Germany:$77 billion. Transportation equipment, chemicals, plastics, rubber, leather goods, machinery, mechanical appliances.
3. China
- Trade value: $575 billion
- Imports from China: $427.2 billion. Top imports: electrical or electronic equipment, machinery, toys, games, sports equipment, furniture, plastics.
- Exports to China: $147.8 billion. Top exports: soybeans, integrated circuits, petroleum.
2. Canada
- Trade value: $774 billion
- Imports from Canada: $421.1 billion. Top imports: paper products, grain, flour, milk, animal and vegetable oils, iron and steel manufactured goods.
- Exports to Canada: $353.2 billion. Top exports: machinery, transportation equipment, chemicals, plastics, rubber, leather products.
1. Mexico
- Trade Value: $799 billion
- Imports From Mexico: $480 billion. Top imports: Vehicles, electrical and electronic equipment, machinery.
- Exports to Mexico: $323 billion. Top exports: Electrical and electronic equipment, machinery, nuclear reactors, fuel, and vehicles.
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