Machinery Having Individual Functions in United States

2019
Exports | Imports
: $13.3B | $14.3B, World Rnk 3 / 222
Flag Rnk 19 / 1217 | World Rnk 2 / 224
Flag Rnk 23 / 1215

2019
Destination | Origin
: $1.38B | $2.6B, South Korea | Japan

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $101M | $76.9M, Japan |  United Kingdom

2019
ECONOMIC COMPLEXITY of United States
: 1.64, Rnk 9 / 157

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 (0.54%), Libya (0.54%), Mayotte (0.54%), Reunion (0.54%), and Sudan (0.54%).

Overview: In January 2021 United States' Machinery Having Individual Functions exports accounted up to $502M and imports accounted up to $767M, resulting in a negative trade balance of $265M. Between January 2020 and January 2021 the exports of United States'   Machinery Having Individual Functions have decreased by $-146M (-22.5%) from $648M to $502M, while imports increased by $124M (19.3%) from $643M to $767M.

Destinations: In January 2021 Machinery Having Individual Functions exported mostly to Canada ($98.8M), Mexico ($92.7M), China ($31.3M), Japan ($28.6M), and United Kingdom ($22.7M), and imported mostly from Germany ($198M), Canada ($82.8M), China ($78.7M), Japan ($51M), and Mexico ($50.1M).

Growth: In January 2021, the decrease in Machinery Having Individual Functions's year-by-year exports was explained primarily by a decrease in exports to Japan ($-53.3M or -65.1%), Mexico ($-46.3M or -33.3%), and Canada ($-24M or -19.6%). In January 2021, the increase in Machinery Having Individual Functions's year-by-year imports was explained primarily by an increase in imports from Germany ($90.4M or 84.3%), Switzerland ($25.2M or 136%), and Mexico ($9.59M or 23.7%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (January 2020 - January 2021): $-146M, (-22.5%)

IMPORT GROWTH (January 2020 - January 2021): $124M, (19.3%)

MAIN EXPORTER (January 2021): Texas, $102M

MAIN DESTINATION (January 2021): Canada, $98.8M

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.

Value

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).

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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:

Flow

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):

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Market Concentration

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Type

In 2018, United States's main exporting competitors in Machinery Having Individual Functions were:

In 2018, United States's main importing competitors in Machinery Having Individual Functions were:

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Tariffs by Country

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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 (0.54%), Libya (0.54%), Mayotte (0.54%), Reunion (0.54%), and Sudan (0.54%).

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