United States2019 Economic Complexity: 1.63, Rank 10 of 157
2019 Product Exports | Imports: $1.51T | $2.38T, 2 of 225 | 1 of 225
2019 Per Capita Product Exports | Imports: $4.61k | $7.26k, 40 of 219 | 68 of 219
2017 Service Exports | Imports : $571B | $422B, 1 of 139 | 2 of 139
Overview: In 2019 United States was the number 1 economy in the world in terms of GDP (current US$), the number 2 in total exports, the number 1 in total imports, the number 8 economy in terms of GDP per capita (current US$) and the number 10 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of United States are Refined Petroleum ($84.9B), Crude Petroleum ($61.9B), Cars ($56.9B), Integrated Circuits ($41.4B), and Vehicle Parts ($41.2B), exporting mostly to Canada ($252B), Mexico ($235B), China ($103B), Japan ($70.1B), and Germany ($59.8B).
In 2019, United States was the world's biggest exporter of Refined Petroleum ($84.9B), Medical Instruments ($29.5B), Gas Turbines ($28.1B), Aircraft Parts ($16.3B), and Orthopedic Appliances ($12.1B)
Imports: The top imports of United States are Cars ($178B), Crude Petroleum ($123B), Computers ($81.9B), Broadcasting Equipment ($81.8B), and Packaged Medicaments ($79.5B), importing mostly from China ($429B), Mexico ($361B), Canada ($314B), Japan ($134B), and Germany ($131B).
In 2019, United States was the world's biggest importer of Cars ($178B), Computers ($81.9B), Broadcasting Equipment ($81.8B), Packaged Medicaments ($79.5B), Vehicle Parts ($71.6B)
Location: United States borders Canada and Mexico by land and Bahamas by sea.
Overview: In January 2021 United States exported $128B and imported $205B, resulting in a negative trade balance of $77.2B. Between January 2020 and January 2021 the exports of United States have decreased by $-1.1B (-0.85%) from $129B to $128B, while imports increased by $9.21B (4.71%) from $196B to $205B.
Trade: In January 2021, the top exports of United States were Refined Petroleum ($5.34B), Aircraft Parts ($5.32B), Crude Petroleum ($4.68B), Petroleum Gas ($4.37B), and Soybeans ($4.15B). In January 2021 the top imports of United States were Cars ($12.7B), Computers ($8.85B), Telephones ($8.15B), Packaged Medicaments ($7.66B), and Commodities not elsewhere specified ($7.51B).
Origins: In January 2021 the exports of United States were mainly from Texas ($27.4B), California ($13.1B), Louisiana ($7.12B), New York ($4.71B), and Illinois ($4.44B), while imports destinations were mainly California ($33.3B), Texas ($22B), Illinois ($14.2B), New York ($11.2B), and New Jersey ($11.1B).
Destinations: In January 2021, United States exported mostly to Canada ($21.2B), Mexico ($19.5B), China ($12.9B), Japan ($6.02B), and South Korea ($5.18B), and imported mostly from China ($39.1B), Mexico ($29B), Canada ($24.5B), Germany ($10.8B), and Japan ($10.4B).
Growth: In January 2021, the decrease in United States's year-by-year exports was explained primarily by an decrease in exports to Mexico ($-1.35B or -6.48%), Canada ($-1.33B or -5.89%), and United Kingdom ($-1.16B or -19.9%), and product exports decrease in Aircraft Parts ($-3.53B or -39.9%), Refined Petroleum ($-2.12B or -28.4%), and Crude Petroleum ($-1.56B or -25%). In January 2021, the increase in United States's year-by-year imports was explained primarily by an increase in imports from China ($5.83B or 17.5%), Switzerland ($1.77B or 54.5%), and Vietnam ($1.55B or 25.3%), and product imports increase in Computers ($2.08B or 30.8%), Packaged Medicaments ($1.75B or 29.6%), and Blood, antisera, vaccines, toxins and cultures ($1.64B or 38.4%).
EXPORT GROWTH (January 2020 - January 2021): $-1.1B, (-0.85%)
IMPORT GROWTH (January 2020 - January 2021): $9.21B, (4.71%)
MAIN EXPORTER (January 2021): Texas, $27.4B
MAIN DESTINATION (January 2021): Canada, $21.2B
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.
Top Export (2019): Refined Petroleum, $84.9B
Top Destination (2019): Canada, $252B
In 2019, United States exported a total of $1.51T, making it the number 2 exporter in the world. During the last five reported years the exports of United States have changed by -$10B from $1.52T in 2014 to $1.51T in 2019.
The most recent exports are led by Refined Petroleum ($84.9B), Crude Petroleum ($61.9B), Cars ($56.9B), Integrated Circuits ($41.4B), and Vehicle Parts ($41.2B). The most common destination for the exports of United States are Canada ($252B), Mexico ($235B), China ($103B), Japan ($70.1B), and Germany ($59.8B).
In 2019 United States imported $2.38T, making it the number 1 trade destination in the world. During the last five reported years the imports of United States changed by $134B from $2.25T in 2014 to $2.38T in 2019.
The most recent imports of United States are led by Cars ($178B), Crude Petroleum ($123B), Computers ($81.9B), Broadcasting Equipment ($81.8B), and Packaged Medicaments ($79.5B). The most common import partners for United States are China ($429B), Mexico ($361B), Canada ($314B), Japan ($134B), and Germany ($131B).
Fastest Growing Export Markets (2018 - 2019)
United States Exports Services (2017): $571B
United States Imports Services (2017): $422B
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).
The top product import tariffs by their MFN Ad Valorem value for United States are Homogenized or reconstituted tobacco (350%) and Homogenized or reconstituted tobacco (350%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for United States are:
During the last 20 years United States's economy has become relatively less complex, moving from the 5th to the 10th 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 (7.81), Military Weapons (6.84), Starch Residue (6.63), Forage Crops (6.06), and Oil Seed Flower (5.3). Specialization is measured using RCA, an index that takes the ratio between United States observed and expected exports in each product.
The highest complexity exports of United States according to the product complexity index (PCI) are Photo plate, film, exposed or developed, except cine (2.76), Equipment for photographic laboratories nes (2.25), Chemical element/compound wafers doped for electronics (2.18), Chemical preparations for photographic use (2.12), and Machines nes having individual functions (2.05). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for United States according to the relatedness index, are Newsprint (0.45), Nickel Powder (0.43), Tool Plates (0.43), Wheat Gluten (0.43), and Malt (0.42). 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.
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