Vehicle Parts in United States 2019 Exports | Imports : $41.2B | $71.6B, World Rnk 2 / 225 Rnk 5 / 1217 | World Rnk 1 / 225 Rnk 6 / 1215
2018 - 2019 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $71.7M | $893M, Spain | Mexico
2019 ECONOMIC COMPLEXITY of United States: 1.59, Rnk 9 / 147
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 2019, the average tariff for United States in Vehicle Parts was 0.8%. The countries with the highest import tariffs for Vehicle Parts were Algeria (Most Favoured Nation duty rate treatement, 1.13%), Egypt (Most Favoured Nation duty rate treatement, 1.13%), Eritrea (Most Favoured Nation duty rate treatement, 1.13%), Western Sahara (Most Favoured Nation duty rate treatement, 1.13%), and Equatorial Guinea (Most Favoured Nation duty rate treatement, 1.13%).
August 2021
Overview In August 2021 United States' Vehicle Parts exports accounted up to $3.07B and imports accounted up to $6.48B, resulting in a negative trade balance of $3.4B. Between August 2020 and August 2021 the exports of United States' Vehicle Parts have increased by $4.91M (0.16%) from $3.07B to $3.07B, while imports increased by $972M (17.7%) from $5.51B to $6.48B.
Destinations In August 2021, Vehicle Parts were exported mostly to Mexico ($1.24B), Canada ($932M), China ($162M), Germany ($69.5M), and Brazil ($53.4M), and were imported mostly from Mexico ($2.28B), China ($841M), Canada ($838M), Japan ($646M), and Germany ($491M).
Growth In August 2021, the increase in Vehicle Parts's year-by-year exports was explained primarily by an increase in exports to Mexico ($62.1M or 5.28%), Chile ($20.6M or 173%), and Thailand ($20.5M or 73.9%). In August 2021, the increase in Vehicle Parts's year-by-year imports was explained primarily by an increase in imports from China ($193M or 29.7%), Japan ($188M or 40.9%), and South Korea ($173M or 56.4%).
EXPORT GROWTH (August 2020 - August 2021): $4.91M, (0.16%)
IMPORT GROWTH (August 2020 - August 2021): $972M, (17.7%)
MAIN EXPORTER (August 2021): Michigan, $651M
MAIN DESTINATION (August 2021): Mexico, $1.24B
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.
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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).
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:
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):
In 2019, United States's main exporting competitors in Vehicle Parts were:
In 2019, the average tariff for United States in Vehicle Parts was 0.8%.
The countries with the highest tariffs for Vehicle Parts in United States were Algeria (Most Favoured Nation duty rate treatement, 1.13%), Egypt (Most Favoured Nation duty rate treatement, 1.13%), Eritrea (Most Favoured Nation duty rate treatement, 1.13%), Western Sahara (Most Favoured Nation duty rate treatement, 1.13%), and Equatorial Guinea (Most Favoured Nation duty rate treatement, 1.13%).