Cars in United States 2020 Exports | Imports : $47.6B | $144B, World Rnk 3 / 210 Rnk 3 / 1217 | World Rnk 1 / 224 Rnk 1 / 1214
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $1.54B | $427M, Nigeria | Slovakia
2020 ECONOMIC COMPLEXITY of United States: 1.56, Rnk 9 / 127
2020 PRODUCT COMPLEXITY IN Cars: 0.89, Rnk 214 / 1029
Exports In 2020, United States exported $47.6B in Cars, making it the 3rd largest exporter of Cars in the world. At the same year, Cars was the 3rd most exported product in United States. The main destination of Cars exports from United States are: Canada ($10.6B), Germany ($6.46B), China ($6.24B), Belgium ($2.45B), and South Korea ($2.39B).
The fastest growing export markets for Cars of United States between 2019 and 2020 were Nigeria ($1.54B), South Korea ($537M), and Chinese Taipei ($137M).
Imports In 2020, United States imported $144B in Cars, becoming the 1st largest importer of Cars in the world. At the same year, Cars was the 1st most imported product in United States. United States imports Cars primarily from: Japan ($32.6B), Canada ($29.7B), Mexico ($29.1B), South Korea ($16.1B), and Germany ($15.1B).
The fastest growing import markets in Cars for United States between 2019 and 2020 were Slovakia ($427M), Sweden ($360M), and South Africa ($196M).
Tariffs In 2019, the average tariff for United States in Cars was 2.02%. The countries with the highest import tariffs for Cars were Burundi (Most Favoured Nation duty rate treatement, 2.5%), Democratic Republic of the Congo (Most Favoured Nation duty rate treatement, 2.5%), Algeria (Most Favoured Nation duty rate treatement, 2.5%), Egypt (Most Favoured Nation duty rate treatement, 2.5%), and Eritrea (Most Favoured Nation duty rate treatement, 2.5%).
December 2022
Overview In December 2022 United States' Cars exports accounted up to $5.32B and imports accounted up to $17.3B, resulting in a negative trade balance of $12B. Between December 2021 and December 2022 the exports of United States' Cars have increased by $833M (18.6%) from $4.49B to $5.32B, while imports increased by $2.72B (18.7%) from $14.6B to $17.3B.
Destinations In December 2022, Cars were exported mostly to Canada ($1.26B), Germany ($647M), China ($471M), United Arab Emirates ($361M), and South Korea ($312M), and were imported mostly from Japan ($3.58B), Mexico ($3.19B), Canada ($2.57B), South Korea ($2.31B), and Germany ($1.99B).
Growth In December 2022, the increase in Cars's year-by-year exports was explained primarily by an increase in exports to Germany ($97.9M or 22.9%), South Korea ($91.1M or 59.9%), and China ($62.8M or 19.6%). In December 2022, the increase in Cars's year-by-year imports was explained primarily by an increase in imports from Japan ($225M or 7.47%), South Korea ($145M or 10.3%), and Finland ($92.4M or 176%).
EXPORT GROWTH (December 2021 - December 2022): $833M, (18.6%)
IMPORT GROWTH (December 2021 - December 2022): $2.72B, (18.7%)
MAIN EXPORTER (December 2022): South Carolina, $946M
MAIN DESTINATION (December 2022): Canada, $1.26B
This section shows Cars's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Cars over time.
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EXPORTS (2020): $47.6B
IMPORTS (2020): $144B
NET TRADE (2020): -$96.6B
In 2020, United States exported $47.6B in Cars. The main destinations of United States exports on Cars were Canada ($10.6B), Germany ($6.46B), China ($6.24B), Belgium ($2.45B), and South Korea ($2.39B).
In 2020, United States imported $144B in Cars, mainly from Japan ($32.6B), Canada ($29.7B), Mexico ($29.1B), South Korea ($16.1B), and Germany ($15.1B).
THE FASTEST GROWING Cars EXPORT MARKETS FOR United States WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Cars BY United States WERE (2019 - 2020):
In 2020, United States's main exporting competitors in Cars were:
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