Michigan

Overview In January 2024 Michigan exported $4.95B and imported $14.4B, resulting in a negative trade balance of $9.49B. Between January 2023 and January 2024 the exports of Michigan have decreased by $-100M (-1.98%) from $5.05B to $4.95B, while imports increased by $1.81B (14.3%) from $12.6B to $14.4B.

Trade In January 2024, the top exports of Michigan were Motor vehicles; parts and accessories (8701... ($785M), Delivery Trucks ($482M), Cars ($321M), Lifting Machinery ($149M), and Petroleum Gas ($120M). In January 2024 the top imports of Michigan were Cars ($3.32B), Delivery Trucks ($2.78B), Motor vehicles; parts and accessories (8701... ($1.72B), Commodities not elsewhere specified ($345M), and Crude Petroleum ($307M).

Destinations In January 2024, Michigan exported mostly to Canada ($1.99B), Mexico ($1.23B), Germany ($185M), Australia ($148M), and China ($135M), and imported mostly from Mexico ($5.81B), Canada ($3.61B), South Korea ($1.75B), China ($804M), and Germany ($408M).

Growth In January 2024, the decrease in Michigan's year-by-year exports was explained primarily by an decrease in exports to Bangladesh ($-78.9M or -98.9%), Nigeria ($-23.7M or -98.8%), and China ($-19.8M or -9.83%), and product exports decrease in Vaccines, blood, antisera, toxins and cultures ($-329M or -91.1%), Ethylene Polymers ($-19.5M or -33.4%), and Spark-Ignition Engines ($-17.9M or -22.9%). In January 2024, the increase in Michigan's year-by-year imports was explained primarily by an increase in imports from Mexico ($775M or 17.9%), Canada ($586M or 18.3%), and Germany ($116M or 33.9%), and product imports increase in Delivery Trucks ($840M or 58.6%), Cars ($744M or 41.3%), and Motor vehicles; parts and accessories (8701... ($217M or 13.7%).