Overview: In January 2021 Michigan exported $3.75B and imported $10.5B, resulting in a negative trade balance of $6.72B. Between January 2020 and January 2021 the exports of Michigan have decreased by $-414M (-9.96%) from $4.16B to $3.75B, while imports increased by $389M (3.86%) from $10.1B to $10.5B.
Trade: In January 2021, the top exports of Michigan were Vehicle Parts ($568M), Delivery Trucks ($443M), Cars ($290M), Spark-Ignition Engines ($111M), and Glass Mirrors ($95.4M). In January 2021 the top imports of Michigan were Cars ($2.56B), Vehicle Parts ($1.46B), Delivery Trucks ($1.35B), Spark-Ignition Engines ($312M), and Commodities not elsewhere specified ($284M).
Destinations: In January 2021, Michigan exported mostly to Canada ($1.56B), Mexico ($756M), China ($183M), Germany ($160M), and Japan ($103M), and imported mostly from Mexico ($4.36B), Canada ($2.77B), China ($796M), South Korea ($698M), and Germany ($324M).
Growth: In January 2021, the decrease in Michigan's year-by-year exports was explained primarily by an decrease in exports to Canada ($-179M or -10.3%), Mexico ($-169M or -18.3%), and United Kingdom ($-63.5M or -58.5%), and product exports decrease in Vehicle Parts ($-113M or -16.6%), Delivery Trucks ($-91.1M or -17.1%), and Machinery Having Individual Functions ($-55.7M or -76.3%). In January 2021, the increase in Michigan's year-by-year imports was explained primarily by an increase in imports from Mexico ($197M or 4.72%), South Korea ($186M or 36.3%), and China ($63.8M or 8.72%), and product imports increase in Cars ($83.2M or 3.35%), Delivery Trucks ($75.9M or 5.97%), and Electrical Control Boards ($50.5M or 60.9%).