Overview: This page contains the latest international trade data for United States, including service trade data, and tariffs. In 2018 United States was the number 1 economy in the world in terms of GDP (current US$), the number 3 in total exports, the number 1 in total imports, and the number 9 most complex economy according to the Economic Complexity Index (ECI). In 2018, United States exported $1.44T and imported $2.41T, resulting in a negative trade balance of -$967B. In 2018, United States's exports per capita were $4.41k and its imports per capita were $7.37k.
Overview: In August 2020 United States exported $118B and imported $204B, resulting in a negative trade balance of $85.4B. Between August 2019 and August 2020 the exports of United States have decreased by $-20.2B (-14.6%) from $138B to $118B, while imports decreased by $-11.6B (-5.4%) from $215B to $204B.
Destinations: In August 2020 United States exported mostly to Canada ($22.8B), Mexico ($17B), China ($11B), Japan ($5.21B), and Germany ($4.8B), and imported mostly from China ($40.8B), Mexico ($29.8B), Canada ($23.8B), Germany ($9.78B), and Japan ($9.73B).
Growth: In August 2020, the decrease in United States's year-by-year exports was explained primarily by a decrease in exports to Mexico ($-5.03B or -22.8%), Canada ($-2.46B or -9.73%), and France ($-1.28B or -41.8%), and product exports decrease in Aircraft Parts ($-4.54B or -45.4%), Refined Petroleum ($-2.96B or -38.2%), and Vehicle Parts ($-826M or -21.2%). In August 2020, the decrease in United States's year-by-year imports was explained primarily by a decrease in imports from Canada ($-2.95B or -11.1%), Japan ($-2.72B or -21.9%), and Germany ($-2.32B or -19.2%), and product imports decrease in Crude Petroleum ($-4.52B or -41.5%), Refined Petroleum ($-2.2B or -42.7%), and Cars ($-2.12B or -14.4%).
This section shows 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 product, destination or origin country to explore the exports or imports behavior of United States over time.
This section shows the differences between United States's total subnational aggregate trade throughout time. To explore different subnational trade comparisons in time, visit United States's subnational profiles.
In 2018 United States exported a total of $1.44T, making it the number 3 exporter in the world. During the last five reported years the exports of United States have changed by -$19.1B from $1.46T in 2013 to $1.44T in 2018.
In 2018 United States imported $2.41T, making it the number 1 trade destination in the world. During the last five reported years the imports of United States changed by $245B from $2.16T in 2013 to $2.41T in 2018.
In 2017, United States exported $571B worth of services. The top services exported by United States in 2017 were Business travel ($156B), Miscellaneous business, professional, and technical services ($112B), Air transport ($65.2B), Other royalties and license fees ($59.7B), and Franchises and similar rights ($47B).
The top services imported by United States in 2017 were Business travel ($123B), Miscellaneous business, professional, and technical services ($69B), Air transport ($60.8B), Reinsurance ($45.1B), and Sea transport ($37.1B).
This section shows forecasts for total product exports and imports for United States. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for United States are:75: AGOA preference on certain textiles and apparel for eligible countries85: Australia - United States Free Trade Agreement (2004)107: Canada United States Free Trade Agreement110: CBERA Caribbean Basin Economic Recovery Act111: Chile - United States Free Trade Agreement (2004)129: Israel - United States Free Trade Agreement (incl. Palestinian Authority; 1985)132: Jordan - United States Free Trade Agreement (2001)135: Morocco - United States Free Trade Agreement (2006)136: Most Favoured Nation duty rate treatement139: Non-MFN duty rate for countries excluded from Most-Favoured- Nation (MFN) treatement142: North American Free Trade Agreement (NAFTA)146: Oman - United States Free Trade Agreement (2006)147: Peru - United States Trade Promotion Agreement (2007)189: Preferential tariff for Colombia249: Preferential tariff for Korea, Republic of276: Preferential tariff for Nepal286: Preferential tariff for Panama (FTA) Free Trade Agreement346: Preferential treatment under the African Growth and Opportunity Act (AGOA)352: Singapore - United States Free Trade Agreement (2004)385: United States - Caribbean Basin Trade Partnership Act (CBTPA)386: United States - Dominican Republic - Central America Free Trade Agreement (DR-CAFTA; incl. Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic; 2005)388: United States Generalized System of Preference389: United States GSP for Least Developed Countries390: United States-Bahrain Free Trade Agreement (2006)
During the last 20 years United States's economy has become relatively less complex, moving from the 6th to the 9th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
This section shows exports, imports and economic complexity data at subnational level for United States. Click any of the State in the geomap to visit the specific subnational profile.
United States has a high level of specialization in Sorghum (9.03), Starch Residue (7.36), Other Locomotives (6.41), Oil Seed Flower (6.33), and Forage Crops (6.14). Specialization is measured using RCA, an index that takes the ratio between United States observed and expected exports in each product.
The top export opportunities for United States according to the relatedness index, are Newsprint (0.44), Leather Used in Machinery (0.43), Wheat Gluten (0.43), Tin Plating (0.43), and Radioactive Chemicals (0.43). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that United States is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
United States
