Vehicle Parts in United States

2019
Exports | Imports
: $41.2B | $71.6B, World Rnk 2 / 225
Flag Rnk 5 / 1217 | World Rnk 1 / 225
Flag Rnk 6 / 1215

2019
Destination | Origin
: $16.3B | $26B, Mexico | Mexico

2018 - 2019
FASTEST GROWING MARKET |  FASTEST GROWING ORIGIN
: $71.7M | $893M, Spain |  Mexico

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

2019
PRODUCT COMPLEXITY  IN Vehicle Parts
: 1.1, Rnk 141 / 1029

Exports: In 2019, United States exported $41.2B in Vehicle Parts, making it the 2nd largest exporter of Vehicle Parts in the world. At the same year, Vehicle Parts was the 5th most exported product in United States. The main destination of Vehicle Parts exports from United States are: Mexico ($16.3B), Canada ($14.8B), China ($1.54B), Germany ($763M), and United Kingdom ($680M).

The fastest growing export markets for Vehicle Parts of United States between 2018 and 2019 were Spain ($71.7M), Thailand ($69.6M), and United Arab Emirates ($49.1M).

Imports: In 2019, United States imported $71.6B in Vehicle Parts, becoming the 1st largest importer of Vehicle Parts in the world. At the same year, Vehicle Parts was the 6th most imported product in United States. United States imports Vehicle Parts primarily from: Mexico ($26B), Canada ($9.6B), China ($9.6B), Japan ($7.5B), and Germany ($5.31B).

The fastest growing import markets in Vehicle Parts for United States between 2018 and 2019 were Mexico ($893M), South Korea ($287M), and Thailand ($74.2M).

Tariffs: In 2018, the average tariff for United States in Vehicle Parts was 0.54%. The countries with the highest import tariffs for Vehicle Parts were Equatorial Guinea (1.13%), Libya (1.13%), Mayotte (1.13%), Reunion (1.13%), and Sudan (1.13%).

Overview: In January 2021 United States' Vehicle Parts exports accounted up to $2.79B and imports accounted up to $5.66B, resulting in a negative trade balance of $2.88B. Between January 2020 and January 2021 the exports of United States'   Vehicle Parts have decreased by $-290M (-9.42%) from $3.08B to $2.79B, while imports increased by $143M (2.58%) from $5.52B to $5.66B.

Destinations: In January 2021 Vehicle Parts exported mostly to Mexico ($1.11B), Canada ($862M), China ($136M), Germany ($61.3M), and South Africa ($46M), and imported mostly from Mexico ($2.12B), Canada ($776M), China ($743M), Japan ($507M), and South Korea ($409M).

Growth: In January 2021, the decrease in Vehicle Parts's year-by-year exports was explained primarily by a decrease in exports to Mexico ($-181M or -14%), Canada ($-137M or -13.7%), and Spain ($-35.1M or -62.4%). In January 2021, the increase in Vehicle Parts's year-by-year imports was explained primarily by an increase in imports from Germany ($68.5M or 23.3%), South Korea ($52M or 14.6%), and Thailand ($19.2M or 37.5%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (January 2020 - January 2021): $-290M, (-9.42%)

IMPORT GROWTH (January 2020 - January 2021): $143M, (2.58%)

MAIN EXPORTER (January 2021): Michigan, $568M

MAIN DESTINATION (January 2021): Mexico, $1.11B

This section shows Vehicle Parts'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 Vehicle Parts over time.

Value

EXPORTS (2019): $41.2B

IMPORTS (2019): $71.6B

NET TRADE (2019): -$30.4B

In 2019, United States exported $41.2B in Vehicle Parts. The main destinations of United States exports on Vehicle Parts were Mexico ($16.3B), Canada ($14.8B), China ($1.54B), Germany ($763M), and United Kingdom ($680M).

In 2019, United States imported $71.6B in Vehicle Parts, mainly from Mexico ($26B), Canada ($9.6B), China ($9.6B), Japan ($7.5B), and Germany ($5.31B).

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IN 2019, United States HAD A POSITIVE NET TRADE IN Vehicle Parts WITH:

IN 2019, United States HAD A NEGATIVE NET TRADE IN Vehicle Parts WITH:

Flow

THE FASTEST GROWING Vehicle Parts EXPORT MARKETS FOR United States WERE (2018 - 2019):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Vehicle Parts BY United States WERE (2018 - 2019):

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Market Concentration

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Flow
Type

In 2018, United States's main exporting competitors in Vehicle Parts were:

In 2018, United States's main importing competitors in Vehicle Parts were:

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Tariffs by Country

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In 2018, the average tariff for United States in Vehicle Parts was 0.54%.

The countries with the highest tariffs for Vehicle Parts in United States were Equatorial Guinea (1.13%), Libya (1.13%), Mayotte (1.13%), Reunion (1.13%), and Sudan (1.13%).

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