United States2019 Economic Complexity : 1.58, Rank 10 of 146
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
2018 Service Exports | Imports : $746B | $480B, 1 of 125 | 2 of 125
Overview In 2019 United States was the number 1 economy in the world in terms of GDP (current US$), 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), and Vehicle Parts ($71.6B)
Location United States borders Canada and Mexico by land and Bahamas by sea.
July, 2021
Overview In July 2021 United States exported $144B and imported $238B, resulting in a negative trade balance of $93.7B. Between July 2020 and July 2021 the exports of United States have increased by $31.4B (27.9%) from $113B to $144B, while imports increased by $37B (18.4%) from $201B to $238B.
Trade In July 2021, the top exports of United States were Refined Petroleum ($7.91B), Aircraft Parts ($7.41B), Crude Petroleum ($5.69B), Petroleum Gas ($5.35B), and Integrated Circuits ($4.74B). In July 2021 the top imports of United States were Crude Petroleum ($12.4B), Cars ($12.2B), Computers ($10.3B), Commodities not elsewhere specified ($9.8B), and Telephones ($7.73B).
Origins In July 2021 the exports of United States were mainly from Texas ($32.3B), California ($14.9B), New York ($6.04B), Louisiana ($5.58B), and Illinois ($5.44B), while imports destinations were mainly California ($40.1B), Texas ($27.2B), Illinois ($17.2B), New York ($12.8B), and New Jersey ($12.7B).
Destinations In July 2021, United States exported mostly to Canada ($25.7B), Mexico ($23.7B), China ($11.7B), Japan ($6.01B), and South Korea ($5.9B), and imported mostly from China ($40.4B), Mexico ($31.9B), Canada ($30B), Japan ($12.3B), and Germany ($11.3B).
Growth In July 2021, the increase in United States's year-by-year exports was explained primarily by an increase in exports to Mexico ($5.21B or 28.3%), Canada ($4.64B or 22%), and China ($2.68B or 29.7%), and product exports increase in Refined Petroleum ($3.5B or 79.4%), Petroleum Gas ($3.19B or 148%), and Aircraft Parts ($2.4B or 48%). In July 2021, the increase in United States's year-by-year imports was explained primarily by an increase in imports from Canada ($7.64B or 34.2%), Japan ($3.84B or 45.5%), and Mexico ($2.82B or 9.7%), and product imports increase in Crude Petroleum ($6.67B or 117%), Refined Petroleum ($2.96B or 106%), and Blood, antisera, vaccines, toxins and cultures ($1.72B or 53.6%).
EXPORT GROWTH (July 2020 - July 2021): $31.4B, (27.9%)
IMPORT GROWTH (July 2020 - July 2021): $37B, (18.4%)
MAIN EXPORTER (July 2021): Texas, $32.3B
MAIN DESTINATION (July 2021): Canada, $25.7B
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.
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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)
Fastest Growing Import Markets (2018 - 2019)
United States Exports Services (2018): $746B
United States Imports Services (2018): $480B
In 2018, United States exported $746B worth of services. The top services exported by United States in 2018 were Personal travel ($158B), Miscellaneous business, professional, and technical services ($130B), Financial services ($114B), Other royalties and license fees ($93.7B), and Air transport ($69.1B).
The top services imported by United States in 2018 were Personal travel ($107B), Miscellaneous business, professional, and technical services ($73B), Air transport ($69.2B), Other royalties and license fees ($39.3B), and Reinsurance ($38.2B).
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:
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.
The top territories of United States according to its Economic Complexity Index are N/A.
In 2020, the principal exporters of United States were Texas ($279B), California ($156B), and New York ($61.8B).
The same year, the principal importers of United States were California ($396B), Texas ($248B), and Illinois ($156B).
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 N/A. 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.
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.