Machinery Having Individual Functions in United States 2019 Exports | Imports : $13.3B | $14.3B, World Rnk 3 / 222 Rnk 19 / 1217 | World Rnk 2 / 224 Rnk 23 / 1215
2018 - 2019 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $101M | $76.9M, Japan | United Kingdom
2019 ECONOMIC COMPLEXITY of United States: 1.59, Rnk 9 / 147
2019 PRODUCT COMPLEXITY IN Machinery Having Individual Functions: 2.05, Rnk 8 / 1029
Exports In 2019, United States exported $13.3B in Machinery Having Individual Functions, making it the 3rd largest exporter of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 19th most exported product in United States. The main destination of Machinery Having Individual Functions exports from United States are: South Korea ($1.38B), Mexico ($1.3B), Japan ($1.28B), China ($1.19B), and Canada ($1.11B).
The fastest growing export markets for Machinery Having Individual Functions of United States between 2018 and 2019 were Japan ($101M), United Arab Emirates ($54.4M), and Norway ($45.8M).
Imports In 2019, United States imported $14.3B in Machinery Having Individual Functions, becoming the 2nd largest importer of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 23rd most imported product in United States. United States imports Machinery Having Individual Functions primarily from: Japan ($2.6B), Germany ($2.38B), China ($1.35B), Canada ($1.13B), and Mexico ($1.06B).
The fastest growing import markets in Machinery Having Individual Functions for United States between 2018 and 2019 were United Kingdom ($76.9M), Vietnam ($43M), and Italy ($42.4M).
Tariffs In 2018, the average tariff for United States in Machinery Having Individual Functions was 0.25%. The countries with the highest import tariffs for Machinery Having Individual Functions were Equatorial Guinea (Most Favoured Nation duty rate treatement, 0.54%), Libya (Most Favoured Nation duty rate treatement, 0.54%), Mayotte (Most Favoured Nation duty rate treatement, 0.54%), Reunion (Most Favoured Nation duty rate treatement, 0.54%), and Sudan (Most Favoured Nation duty rate treatement, 0.54%).
July 2021
Overview In July 2021 United States' Machinery Having Individual Functions exports accounted up to $563M and imports accounted up to $865M, resulting in a negative trade balance of $303M. Between July 2020 and July 2021 the exports of United States' Machinery Having Individual Functions have increased by $75.5M (15.5%) from $487M to $563M, while imports increased by $211M (32.3%) from $654M to $865M.
Destinations In July 2021, Machinery Having Individual Functions were exported mostly to Canada ($115M), Mexico ($114M), China ($52.2M), United Kingdom ($24.7M), and Japan ($21.9M), and were imported mostly from Germany ($189M), China ($85.9M), Canada ($82.5M), Mexico ($74.6M), and Japan ($61.5M).
Growth In July 2021, the increase in Machinery Having Individual Functions's year-by-year exports was explained primarily by an increase in exports to Mexico ($30.7M or 36.7%), Canada ($20.9M or 22.2%), and China ($19M or 57%). In July 2021, the increase in Machinery Having Individual Functions's year-by-year imports was explained primarily by an increase in imports from Germany ($51.4M or 37.4%), South Korea ($27.4M or 154%), and Mexico ($24.5M or 48.8%).
EXPORT GROWTH (July 2020 - July 2021): $75.5M, (15.5%)
IMPORT GROWTH (July 2020 - July 2021): $211M, (32.3%)
MAIN EXPORTER (July 2021): Texas, $109M
MAIN DESTINATION (July 2021): Canada, $115M
This section shows Machinery Having Individual Functions'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 Machinery Having Individual Functions over time.
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EXPORTS (2019): $13.3B
IMPORTS (2019): $14.3B
NET TRADE (2019): -$1.04B
In 2019, United States exported $13.3B in Machinery Having Individual Functions. The main destinations of United States exports on Machinery Having Individual Functions were South Korea ($1.38B), Mexico ($1.3B), Japan ($1.28B), China ($1.19B), and Canada ($1.11B).
In 2019, United States imported $14.3B in Machinery Having Individual Functions, mainly from Japan ($2.6B), Germany ($2.38B), China ($1.35B), Canada ($1.13B), and Mexico ($1.06B).
IN 2019, United States HAD A POSITIVE NET TRADE IN Machinery Having Individual Functions WITH:
IN 2019, United States HAD A NEGATIVE NET TRADE IN Machinery Having Individual Functions WITH:
THE FASTEST GROWING Machinery Having Individual Functions EXPORT MARKETS FOR United States WERE (2018 - 2019):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machinery Having Individual Functions BY United States WERE (2018 - 2019):
In 2019, United States's main exporting competitors in Machinery Having Individual Functions were:
In 2019, United States's main importing competitors in Machinery Having Individual Functions were:
In 2018, the average tariff for United States in Machinery Having Individual Functions was 0.25%.
The countries with the highest tariffs for Machinery Having Individual Functions in United States were Equatorial Guinea (Most Favoured Nation duty rate treatement, 0.54%), Libya (Most Favoured Nation duty rate treatement, 0.54%), Mayotte (Most Favoured Nation duty rate treatement, 0.54%), Reunion (Most Favoured Nation duty rate treatement, 0.54%), and Sudan (Most Favoured Nation duty rate treatement, 0.54%).