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2022
Exports $562MWorld Rnk 4 / 159
Flag Rnk 362 / 1217
2022
Destination $19.1M China
2021 - 2022
FASTEST GROWING MARKET $19.1MMalaysia
2022
PRODUCT COMPLEXITY IN Electric Furnaces1.31Rnk 93 / 1025
2022
Imports $660MWorld Rnk 2 / 209
Flag Rnk 480 / 1216
2022
Origin $22.3M Germany
2021 - 2022
FASTEST GROWING ORIGIN $22.3MItaly
2022
ECONOMIC COMPLEXITY of United States1.47Rnk 10 / 133

About

Exports In 2022, United States exported $562M in Electric Furnaces, making it the 4th largest exporter of Electric Furnaces in the world. At the same year, Electric Furnaces was the 362nd most exported product in United States. The main destination of Electric Furnaces exports from United States are: China ($85.8M), Mexico ($66.6M), Canada ($60M), Malaysia ($49.1M), and South Korea ($31.4M).

The fastest growing export markets for Electric Furnaces of United States between 2021 and 2022 were Malaysia ($19.1M), Canada ($11.2M), and Mexico ($10.4M).

Imports In 2022, United States imported $660M in Electric Furnaces, becoming the 2nd largest importer of Electric Furnaces in the world. At the same year, Electric Furnaces was the 480th most imported product in United States. United States imports Electric Furnaces primarily from: Germany ($113M), China ($86.1M), Italy ($79.5M), Japan ($73.6M), and Mexico ($45.8M).

The fastest growing import markets in Electric Furnaces for United States between 2021 and 2022 were Italy ($22.3M), China ($20.2M), and Austria ($17.2M).

COMPANIES In 2023, leading companies such as Samsung (4.64k), LG Electronics (2.06k), and J.C. Bamford (357) were at the forefront of shipping Electric Furnaces to the United States.

Latest Trends

September 2024

About

Overview In September 2024 United States' Electric Furnaces exports accounted up to $63.2M and imports accounted up to $91.3M, resulting in a negative trade balance of $28.1M. Between September 2023 and September 2024 the exports of United States'   Electric Furnaces have decreased by $-11.2M (-15.1%) from $74.5M to $63.2M, while imports increased by $9M (10.9%) from $82.3M to $91.3M.

Destinations In September 2024, Electric Furnaces were exported mostly to Japan ($21.1M), India ($7.06M), Mexico ($6.46M), Chinese Taipei ($4.82M), and Canada ($4.04M), and were imported mostly from Germany ($22.1M), South Korea ($17.7M), Italy ($7.03M), France ($6.09M), and South Africa ($5.42M).

Growth In September 2024, the decrease in Electric Furnaces's year-by-year exports was explained primarily by a decrease in exports to India ($-2.67M or -86.7%), Germany ($-1.54M or -53.9%), and Israel ($-998k or -92.8%). In September 2024, the increase in Electric Furnaces's year-by-year imports was explained primarily by an increase in imports from Germany ($6.86M or 165%), Sweden ($5.98M or 1.77k%), and Switzerland ($5.06M or 3.4k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-11.2M(-15.1%)
IMPORT GROWTH (September 2023 - September 2024)$9M(10.9%)
MAIN DESTINATION (September 2024)Japan$21.1M

This section shows Electric Furnaces's 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 destination or origin country to explore the exports or imports behavior of Electric Furnaces over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$562M
IMPORTS (2022)$660M
NET TRADE (2022)-$98M

In 2022, United States exported $562M in Electric Furnaces. The main destinations of United States exports on Electric Furnaces were China ($85.8M), Mexico ($66.6M), Canada ($60M), Malaysia ($49.1M), and South Korea ($31.4M).

In 2022, United States imported $660M in Electric Furnaces, mainly from Germany ($113M), China ($86.1M), Italy ($79.5M), Japan ($73.6M), and Mexico ($45.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Furnaces EXPORT MARKETS FOR United States WERE (2021 - 2022):
Malaysia$19.1M (63.5%)
Canada$11.2M (22.8%)
Mexico$10.4M (18.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Furnaces BY United States WERE (2021 - 2022):
Austria-$3.62M (-75.3%)
Russia-$2.68M (-84.4%)
Portugal-$2.49M (-87.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, United States's main exporting competitors in Electric Furnaces were:
China $1.22B
Germany $882M
Italy $722M
In 2022, United States's main importing competitors in Electric Furnaces were:
China $759M
Indonesia $306M

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Trade Value of Electric Furnaces by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $13.9M
TOP IMPORT POTENTIALChina+ $28.3M

Electric Furnaces’s highest export potential is China. With an export gap of $13.9M.   Electric Furnaces’s highest import potential is China with an import gap of $28.3M.

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