2019 Exports | Imports: $132B | $309B, World Rnk 3 / 225
Rnk 4 / 96 | World Rnk 1 / 225 Rnk 3 / 96
2019 Destination | Origin: $49.7B | $101B, Canada | Mexico
2018 - 2019 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $3.4B | $7.59B, Belgium | Mexico
2019 ECONOMIC COMPLEXITY of United States: 1.64, Rnk 9 / 157
2019 PRODUCT COMPLEXITY IN Vehicles and their parts: 1.43, Rnk 7 / 96
Exports: In 2019, United States exported $132B in Vehicles and their parts, making it the 3rd largest exporter of Vehicles and their parts in the world. At the same year, Vehicles and their parts was the 4th most exported product in United States. The main destination of Vehicles and their parts exports from United States are: Canada ($49.7B), Mexico ($21.1B), China ($9.23B), Germany ($8.07B), and Belgium ($4.9B).
The fastest growing export markets for Vehicles and their parts of United States between 2018 and 2019 were Belgium ($3.4B), Germany ($1.05B), and Russia ($293M).
Imports: In 2019, United States imported $309B in Vehicles and their parts, becoming the 1st largest importer of Vehicles and their parts in the world. At the same year, Vehicles and their parts was the 3rd most imported product in United States. United States imports Vehicles and their parts primarily from: Mexico ($101B), Canada ($55.2B), Japan ($49.4B), Germany ($28.1B), and South Korea ($21.7B).
The fastest growing import markets in Vehicles and their parts for United States between 2018 and 2019 were Mexico ($7.59B), South Korea ($2.41B), and Sweden ($617M).
Tariffs: In 2017, the average tariff for United States in Vehicles and their parts was 1.77%. The countries with the highest import tariffs for Vehicles and their parts were North Korea (25%), Cuba (25%), Equatorial Guinea (2.42%), Libya (2.42%), and Mayotte (2.42%).
Overview: In January 2021 United States' Vehicles and their parts exports accounted up to $8.68B and imports accounted up to $22.6B, resulting in a negative trade balance of $13.9B. Between January 2020 and January 2021 the exports of United States' Vehicles and their parts have decreased by $-262M (-2.93%) from $8.94B to $8.68B, while imports increased by $1.32B (6.18%) from $21.3B to $22.6B.
Destinations: In January 2021 Vehicles and their parts exported mostly to Canada ($3.1B), Mexico ($1.42B), Germany ($508M), Belgium ($483M), and China ($463M), and imported mostly from Mexico ($7.5B), Japan ($3.73B), Canada ($3.4B), South Korea ($1.89B), and Germany ($1.76B).
Growth: In January 2021, the decrease in Vehicles and their parts's year-by-year exports was explained primarily by a decrease in exports to Canada ($-175M or -5.34%), Mexico ($-174M or -10.9%), and South Korea ($-110M or -38.1%). In January 2021, the increase in Vehicles and their parts's year-by-year imports was explained primarily by an increase in imports from Mexico ($562M or 8.1%), Japan ($335M or 9.86%), and Germany ($280M or 18.9%).
EXPORT GROWTH (January 2020 - January 2021): $-262M, (-2.93%)
IMPORT GROWTH (January 2020 - January 2021): $1.32B, (6.18%)
MAIN EXPORTER (January 2021): Michigan, $1.31B
MAIN DESTINATION (January 2021): Canada, $3.1B
This section shows Vehicles and their 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 Vehicles and their parts over time.
EXPORTS (2019): $132B
IMPORTS (2019): $309B
NET TRADE (2019): -$177B
In 2019, United States exported $132B in Vehicles and their parts. The main destinations of United States exports on Vehicles and their parts were Canada ($49.7B), Mexico ($21.1B), China ($9.23B), Germany ($8.07B), and Belgium ($4.9B).
In 2019, United States imported $309B in Vehicles and their parts, mainly from Mexico ($101B), Canada ($55.2B), Japan ($49.4B), Germany ($28.1B), and South Korea ($21.7B).
IN 2019, United States HAD A POSITIVE NET TRADE IN Vehicles and their parts WITH:
IN 2019, United States HAD A NEGATIVE NET TRADE IN Vehicles and their parts WITH:
THE FASTEST GROWING Vehicles and their parts EXPORT MARKETS FOR United States WERE (2018 - 2019):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Vehicles and their parts BY United States WERE (2018 - 2019):
In 2018, United States's main exporting competitors in Vehicles and their parts were:
In 2018, United States's main importing competitors in Vehicles and their parts were:
In 2017, the average tariff for United States in Vehicles and their parts was 1.77%.
The countries with the highest tariffs for Vehicles and their parts in United States were North Korea (25%), Cuba (25%), Equatorial Guinea (2.42%), Libya (2.42%), and Mayotte (2.42%).
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