Vehicle Parts in United States

EXPORTS (2018): $27B, World Rnk 5 / 211
Flag Rnk 8 / 1222

TOP DESTINATION (2018): $16.6B, Mexico

FASTEST GROWING MARKET (2017 - 2018): $1.83B, Mexico

IMPORTS (2018): $73.6B, World Rnk 1 / 219
Flag Rnk 5 / 1217

TOP ORIGIN (2018): $25B, Mexico

FASTEST GROWING ORIGIN (2017 - 2018): $2.07B, Mexico

ECONOMIC COMPLEXITY of United States (2018): 1.57, Rnk 9 / 137

PRODUCT COMPLEXITY  IN Vehicle Parts (2018): 1.01, Rnk 170 / 1018

Exports: In 2018, United States exported $27B in Vehicle Parts, making it the 5th largest exporter of Vehicle Parts in the world. At the same year, Vehicle Parts was the 8th most exported product in United States. The main destination of Vehicle Parts exports from United States are: Mexico ($16.6B), China ($2.39B), Germany ($899M), United Kingdom ($727M), and Japan ($606M).

The fastest growing export markets for Vehicle Parts of United States between 2017 and 2018 were Mexico ($1.83B), Thailand ($441M), and China ($305M).

Imports: In 2018, United States imported $73.6B in Vehicle Parts, becoming the 1st largest importer of Vehicle Parts in the world. At the same year, Vehicle Parts was the 5th most imported product in United States. United States imports Vehicle Parts primarily from: Mexico ($25B), China ($11.4B), Canada ($9.96B), Japan ($8.21B), and Germany ($5.83B).

The fastest growing import markets in Vehicle Parts for United States between 2017 and 2018 were Mexico ($2.07B), China ($1.45B), and Canada ($955M).

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 October 2020 United States' Vehicle Parts exports accounted up to $3.56B and imports accounted up to $6.29B, resulting in a negative trade balance of $2.73B. Between October 2019 and October 2020 the exports of United States'   Vehicle Parts have decreased by $-35.7M (-0.99%) from $3.59B to $3.56B, while imports increased by $670M (11.9%) from $5.62B to $6.29B.

Destinations: In October 2020 Vehicle Parts exported mostly to Mexico ($1.46B), Canada ($1.09B), China ($193M), Germany ($85.9M), and Brazil ($59.2M), and imported mostly from Mexico ($2.53B), Canada ($838M), China ($753M), Japan ($559M), and South Korea ($444M).

Growth: In October 2020, the decrease in Vehicle Parts's year-by-year exports was explained primarily by a decrease in exports to Canada ($-295M or -21.2%), United Kingdom ($-14.9M or -27%), and Netherlands ($-11.9M or -55.6%). In October 2020, the increase in Vehicle Parts's year-by-year imports was explained primarily by an increase in imports from Mexico ($431M or 20.6%), Canada ($120M or 16.7%), and South Korea ($58.6M or 15.2%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (October 2019 - October 2020): $-35.7M, (-0.99%)

IMPORT GROWTH (October 2019 - October 2020): $670M, (11.9%)

MAIN EXPORTER (October 2020): Michigan, $738M

MAIN DESTINATION (October 2020): Mexico, $1.46B

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 (2018): $27B

IMPORTS (2018): $73.6B

NET TRADE (2018): -$46.6B

In 2018, United States exported $27B in Vehicle Parts. The main destinations of United States exports on Vehicle Parts were Mexico ($16.6B), China ($2.39B), Germany ($899M), United Kingdom ($727M), and Japan ($606M).

In 2018, United States imported $73.6B in Vehicle Parts, mainly from Mexico ($25B), China ($11.4B), Canada ($9.96B), Japan ($8.21B), and Germany ($5.83B).

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IN 2018, United States HAD A POSITIVE NET TRADE IN Vehicle Parts WITH:

IN 2018, United States HAD A NEGATIVE NET TRADE IN Vehicle Parts WITH:

Flow

THE FASTEST GROWING Vehicle Parts EXPORT MARKETS FOR United States WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Vehicle Parts BY United States WERE (2017 - 2018):

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Market Concentration

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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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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Vehicle Parts in United States. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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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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