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2023
Exports $447MWorld Rnk 6 / 187
Flag Rnk 395 / 1217
2023
Destination $22.1M Mexico
2022 - 2023
FASTEST GROWING MARKET $22.1MFrance
2023
PRODUCT COMPLEXITY IN Electromagnets1.1Rnk 144 / 1025
2023
Imports $1.33BWorld Rnk 2 / 216
Flag Rnk 314 / 1215
2023
Origin $46.9M China
2022 - 2023
FASTEST GROWING ORIGIN $46.9MMexico
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $447M in Electromagnets, making it the 6th largest exporter of Electromagnets in the world. At the same year, Electromagnets was the 395th most exported product in United States. The main destination of Electromagnets exports from United States are: Mexico ($127M), Canada ($53.7M), France ($31.8M), China ($26.9M), and Germany ($20.3M).

The fastest growing export markets for Electromagnets of United States between 2022 and 2023 were France ($22.1M), Canada ($7.6M), and Netherlands ($3.65M).

Imports In 2018, United States imported $1.33B in Electromagnets, becoming the 2nd largest importer of Electromagnets in the world. At the same year, Electromagnets was the 314th most imported product in United States. United States imports Electromagnets primarily from: China ($596M), Mexico ($153M), Japan ($140M), Germany ($102M), and South Korea ($34.6M).

The fastest growing import markets in Electromagnets for United States between 2022 and 2023 were Mexico ($46.9M), Japan ($25.7M), and Thailand ($5.71M).

COMPANIES In 2023, leading companies such as ZF Friedrichshafen (221), Robert Bosch (181), and Ford Motor Company (51) were at the forefront of shipping Electromagnets to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Electromagnets exports accounted up to $42.1M and imports accounted up to $88M, resulting in a negative trade balance of $45.9M. Between November 2023 and November 2024 the exports of United States'   Electromagnets have decreased by $-168k (-0.4%) from $42.3M to $42.1M, while imports increased by $171k (0.19%) from $87.9M to $88M.

Destinations In November 2024, Electromagnets were exported mostly to Mexico ($15.9M), Canada ($6.03M), China ($4.13M), United Kingdom ($2.59M), and Brazil ($1.01M), and were imported mostly from China ($34.4M), Mexico ($9.95M), Japan ($9.83M), Germany ($7.72M), and Thailand ($2.83M).

Growth In November 2024, the decrease in Electromagnets's year-by-year exports was explained primarily by a decrease in exports to Switzerland ($-572k or -73.6%), Chinese Taipei ($-445k or -57.6%), and South Korea ($-392k or -46%). In November 2024, the increase in Electromagnets's year-by-year imports was explained primarily by an increase in imports from Japan ($1.27M or 19.8%), Germany ($1.11M or 14.6%), and Indonesia ($548k or 1.19k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$-168k(-0.4%)
IMPORT GROWTH (November 2023 - November 2024)$171k(0.19%)
MAIN EXPORTER (November 2024)Michigan$28.1M
MAIN DESTINATION (November 2024)Mexico$15.9M

This section shows Electromagnets'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 Electromagnets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$447M
IMPORTS (2023)$1.33B
NET TRADE (2023)-$879M

In 2023, United States exported $447M in Electromagnets. The main destinations of United States exports on Electromagnets were Mexico ($127M), Canada ($53.7M), France ($31.8M), China ($26.9M), and Germany ($20.3M).

In 2023, United States imported $1.33B in Electromagnets, mainly from China ($596M), Mexico ($153M), Japan ($140M), Germany ($102M), and South Korea ($34.6M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electromagnets EXPORT MARKETS FOR United States WERE (2022 - 2023):
France$22.1M (227%)
Canada$7.6M (16.5%)
Netherlands$3.65M (57.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electromagnets BY United States WERE (2022 - 2023):
China-$10M (-27.2%)
South Korea-$5.17M (-34%)
Chinese Taipei-$2.54M (-42%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Electromagnets were:
China $5.34B
Germany $1.17B
Japan $974M
In 2023, United States's main importing competitors in Electromagnets were:
Germany $1.39B
Japan $1.01B

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Trade Value of Electromagnets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $12.6M
TOP IMPORT POTENTIALGermany+ $18.1M

Electromagnets’s highest export potential is China. With an export gap of $12.6M.   Electromagnets’s highest import potential is Germany with an import gap of $18.1M.

See methodology.

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