Overview In October 2022 Michigan exported $5.39B and imported $13.2B, resulting in a negative trade balance of $7.82B. Between October 2021 and October 2022 the exports of Michigan have increased by $175M (3.35%) from $5.22B to $5.39B, while imports increased by $1.25B (10.5%) from $12B to $13.2B.
Trade In October 2022, the top exports of Michigan were Delivery Trucks ($832M), Motor vehicles; parts and accessories (8701... ($674M), Cars ($616M), Vaccines, blood, antisera, toxins and cultures ($234M), and Petroleum Gas ($146M). In October 2022 the top imports of Michigan were Cars ($2.32B), Delivery Trucks ($2.13B), Motor vehicles; parts and accessories (8701... ($2B), Commodities not elsewhere specified ($410M), and Spark-Ignition Engines ($336M).
Destinations In October 2022, Michigan exported mostly to Canada ($2.43B), Mexico ($937M), China ($296M), South Korea ($202M), and Germany ($170M), and imported mostly from Mexico ($5.47B), Canada ($3.49B), China ($890M), South Korea ($809M), and Germany ($465M).
Growth In October 2022, the increase in Michigan's year-by-year exports was explained primarily by an increase in exports to China ($26.3M or 16.8%), France ($17.3M or 55.1%), and Australia ($16.3M or 68.2%), and product exports increase in N/A. In October 2022, the increase in Michigan's year-by-year imports was explained primarily by an increase in imports from Mexico ($199M or 4.78%), South Korea ($187M or 36.6%), and China ($66.6M or 9.14%), and product imports increase in Cars ($91M or 3.68%), Delivery Trucks ($75.9M or 5.97%), and Electrical Control Boards ($50.7M or 61.1%).