Michigan

Overview In August 2024 Michigan exported $5.4B and imported $14.3B, resulting in a negative trade balance of $8.91B. Between August 2023 and August 2024 the exports of Michigan have decreased by $-625M (-10.4%) from $6.03B to $5.4B, while imports decreased by $-982M (-6.42%) from $15.3B to $14.3B.

Trade In August 2024, the top exports of Michigan were Delivery Trucks ($822M), Motor vehicles; parts and accessories (8701... ($794M), Cars ($413M), Electric Batteries ($239M), and Aircraft Parts ($127M). In August 2024 the top imports of Michigan were Cars ($3.44B), Motor vehicles; parts and accessories (8701... ($2B), Delivery Trucks ($1.98B), Insulated Wire ($415M), and Commodities not elsewhere specified ($378M).

Destinations In August 2024, Michigan exported mostly to Canada ($2.09B), Mexico ($1.59B), China ($170M), Germany ($165M), and Australia ($139M), and imported mostly from Mexico ($6.48B), Canada ($3.46B), South Korea ($1.02B), China ($1B), and Germany ($473M).

Growth In August 2024, the decrease in Michigan's year-by-year exports was explained primarily by an decrease in exports to Canada ($-533M or -20.3%), China ($-75.3M or -30.7%), and Saudi Arabia ($-35.5M or -62.4%), and product exports decrease in Delivery Trucks ($-326M or -28.4%), Motor vehicles; parts and accessories (8701... ($-199M or -20%), and Spark-Ignition Engines ($-99.6M or -74.3%). In August 2024, the decrease in Michigan's year-by-year imports was explained primarily by an decrease in imports from Canada ($-1.2B or -25.8%), South Korea ($-207M or -16.9%), and Italy ($-147M or -51.5%), and product imports decrease in Cars ($-635M or -15.6%), Motor vehicles; parts and accessories (8701... ($-242M or -10.8%), and Electrical Lighting and Signalling Equipment ($-70.2M or -40%).