Flag United States

Econ Complexity (2018): 1.57, Rank 9 of 137

Product Exports (2018): $1.44T, Rank 3 of 222

Exports Per Capita (2018): $4.41k, Rank 141 of 219

Product Imports (2018): $2.41T, Rank 1 of 221

Imports Per Capita (2018): $7.37k, Rank 166 of 219

Service Exports (2017): $571B, Rank 1 of 139

Service Imports (2017): $422B, Rank 2 of 139

GDP (2018): $20.5T, CURRENT US$
Rank 1 of 196

GDP growth (2008 - 2018): 39.6%, CURRENT US$
Rank 99 of 196

GDP PC (2018): $62,795, CURRENT US$
Rank 10 of 196

GDP PC GROWTH (2008 - 2018): 29.8%, CURRENT US$
Rank 81 of 196

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.

Trade: The top exports of United States are Refined Petroleum ($95.8B), Planes, Helicopters, and/or Spacecraft ($57.9B), Cars ($51.4B), Crude Petroleum ($45.5B), and Integrated Circuits ($37.1B). The top imports of United States are Cars ($177B), Crude Petroleum ($140B), Broadcasting Equipment ($84.9B), Computers ($80.8B), and Vehicle Parts ($73.6B).

Destinations: United States exports mostly to Mexico ($237B), Canada ($190B), China ($119B), Japan ($73.5B), and South Korea ($55.8B), and imports mostly from China ($499B), Mexico ($340B), Canada ($314B), Japan ($135B), and Germany ($132B).

Location: United States borders Canada and Mexico by land and Bahamas by sea.

Latest Trends (August, 2020)

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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.

Trade: In August 2020 the top exports of United States were Aircraft Parts ($5.46B), Cars ($4.84B), Refined Petroleum ($4.79B), Crude Petroleum ($4.2B), and Commodities not elsewhere specified ($3.45B). In August 2020 the top imports of United States were Cars ($12.6B), Computers ($9.21B), Commodities not elsewhere specified ($8.54B), Telephones ($8.08B), and Packaged Medicaments ($6.63B).

Origins: In August 2020 the exports of United States were mainly from Texas ($22.2B), California ($13.1B), New York ($5.95B), Louisiana ($4.52B), and Illinois ($4.13B), while imports destinations were mainly California ($36.4B), Texas ($21.8B), Illinois ($13B), New York ($12.4B), and Michigan ($11.2B).

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%).

Flow
Value
Depth

EXPORT GROWTH (August 2019 - August 2020): $-20.2B, (-14.6%)

IMPORT GROWTH (August 2019 - August 2020): $-11.6B, (-5.4%)

MAIN EXPORTER (August 2020): Texas, $22.2B

MAIN DESTINATION (August 2020): Canada, $22.8B

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.

Comparison in Time

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Flow
Value
Reference Period

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.

Explore United States's Subnational Data

Yearly Exports

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Value
Depth

Top Export (2018): Refined Petroleum, $95.8B

Top Destination (2018): Mexico, $237B

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.

The most recent exports are led by Refined Petroleum ($95.8B), Planes, Helicopters, and/or Spacecraft ($57.9B), Cars ($51.4B), Crude Petroleum ($45.5B), and Integrated Circuits ($37.1B). The most common destination for the exports of United States are Mexico ($237B), Canada ($190B), China ($119B), Japan ($73.5B), and South Korea ($55.8B).

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Yearly Imports

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Value
Depth

Top Import (2018): Cars, $177B

Top Origin (2018): China, $499B

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.

The most recent imports of United States are led by Cars ($177B), Crude Petroleum ($140B), Broadcasting Equipment ($84.9B), Computers ($80.8B), and Vehicle Parts ($73.6B). The most common import partners for United States are China ($499B), Mexico ($340B), Canada ($314B), Japan ($135B), and Germany ($132B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

  • Mexico, $55.3B (+ 30.4%)
  • Canada, $40.5B (+ 27%)
  • Chinese Taipei, $20.4B (+ 190%)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

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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.

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Tariffs by Product

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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.

Explore Tariff Data

*The tariffs applied to imports for United States are:
75: AGOA preference on certain textiles and apparel for eligible countries
85: Australia - United States Free Trade Agreement (2004)
107: Canada United States Free Trade Agreement
110: CBERA Caribbean Basin Economic Recovery Act
111: 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 treatement
139: Non-MFN duty rate for countries excluded from Most-Favoured- Nation (MFN) treatement
142: 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 Colombia
249: Preferential tariff for Korea, Republic of
276: Preferential tariff for Nepal
286: Preferential tariff for Panama (FTA) Free Trade Agreement
346: 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 Preference
389: United States GSP for Least Developed Countries
390: United States-Bahrain Free Trade Agreement (2006)

Economic Complexity

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Economic Complexity Ranking

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Scale

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.

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Comparison Map

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Value

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.

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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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The highest complexity exports of United States according to the product complexity index (PCI) are Photo plate, film, exposed or developed, except cine (2.4), Chemical element/compound wafers doped for electronics (2.2), Chemical preparations for photographic use (2.16), Photograph film, rolls, unexposed, not paper (2.02), and Machines nes having individual functions (2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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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.

Diversification Frontier

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Depth

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.