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2023
Exports $5.71BWorld Rnk 5 / 223
Flag Rnk 55 / 1217
2023
Destination $186M Mexico
2022 - 2023
FASTEST GROWING MARKET $186MMexico
2023
PRODUCT COMPLEXITY IN Electrical Transformers0.68Rnk 293 / 1025
2023
Imports $27.3BWorld Rnk 1 / 225
Flag Rnk 15 / 1215
2023
Origin $1.34B Mexico
2022 - 2023
FASTEST GROWING ORIGIN $1.34BMexico
2023
ECONOMIC COMPLEXITY of United States1.5Rnk 10 / 132

About

Exports In 2023, United States exported $5.71B in Electrical Transformers, making it the 5th largest exporter of Electrical Transformers in the world. At the same year, Electrical Transformers was the 55th most exported product in United States. The main destination of Electrical Transformers exports from United States are: Mexico ($1.13B), Canada ($758M), China ($386M), Netherlands ($275M), and Germany ($245M).

The fastest growing export markets for Electrical Transformers of United States between 2022 and 2023 were Mexico ($186M), Canada ($118M), and Qatar ($88.1M).

Imports In 2023, United States imported $27.3B in Electrical Transformers, becoming the 1st largest importer of Electrical Transformers in the world. At the same year, Electrical Transformers was the 15th most imported product in United States. United States imports Electrical Transformers primarily from: Mexico ($5.74B), China ($4.09B), Thailand ($2.11B), Vietnam ($1.53B), and Japan ($1.34B).

The fastest growing import markets in Electrical Transformers for United States between 2022 and 2023 were Mexico ($1.34B), Thailand ($681M), and South Korea ($602M).

COMPANIES In 2023, leading companies such as Cloud Network Technology (287), ABB Motors and Mechanical (272), and Tesla (264) were at the forefront of shipping Electrical Transformers to the United States.

Latest Trends

November 2024

About

Overview In November 2024 United States' Electrical Transformers exports accounted up to $662M and imports accounted up to $2.58B, resulting in a negative trade balance of $1.92B. Between November 2023 and November 2024 the exports of United States'   Electrical Transformers have increased by $25.4M (3.99%) from $636M to $662M, while imports increased by $266M (11.5%) from $2.32B to $2.58B.

Destinations In November 2024, Electrical Transformers were exported mostly to Mexico ($193M), Canada ($137M), Germany ($29.2M), South Korea ($22.2M), and China ($18.8M), and were imported mostly from Mexico ($514M), China ($334M), Thailand ($231M), South Korea ($159M), and Chinese Taipei ($139M).

Growth In November 2024, the increase in Electrical Transformers's year-by-year exports was explained primarily by an increase in exports to Canada ($39.9M or 41.5%), Mexico ($29.6M or 20.4%), and Ireland ($11.6M or 1.07k%). In November 2024, the increase in Electrical Transformers's year-by-year imports was explained primarily by an increase in imports from Mexico ($130M or 47%), South Korea ($85.3M or 248%), and Thailand ($74.3M or 83.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)$25.4M(3.99%)
IMPORT GROWTH (November 2023 - November 2024)$266M(11.5%)
MAIN EXPORTER (November 2024)Texas$154M
MAIN DESTINATION (November 2024)Mexico$193M

This section shows Electrical Transformers'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 Electrical Transformers over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$5.71B
IMPORTS (2023)$27.3B
NET TRADE (2023)-$21.5B

In 2023, United States exported $5.71B in Electrical Transformers. The main destinations of United States exports on Electrical Transformers were Mexico ($1.13B), Canada ($758M), China ($386M), Netherlands ($275M), and Germany ($245M).

In 2023, United States imported $27.3B in Electrical Transformers, mainly from Mexico ($5.74B), China ($4.09B), Thailand ($2.11B), Vietnam ($1.53B), and Japan ($1.34B).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electrical Transformers EXPORT MARKETS FOR United States WERE (2022 - 2023):
Mexico$186M (19.7%)
Canada$118M (18.4%)
Qatar$88.1M (430%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electrical Transformers BY United States WERE (2022 - 2023):
Israel-$41.8M (-44.3%)
South Korea-$22.3M (-10.8%)
Germany-$16.7M (-6.37%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, United States's main exporting competitors in Electrical Transformers were:
China $51.9B
Germany $12.8B
Mexico $6.34B
In 2023, United States's main importing competitors in Electrical Transformers were:
Germany $15.1B
China $7.17B

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Trade Value of Electrical Transformers by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALCanada+ $191M
TOP IMPORT POTENTIALChina+ $1.37B

Electrical Transformers’s highest export potential is Canada. With an export gap of $191M.   Electrical Transformers’s highest import potential is China with an import gap of $1.37B.

See methodology.

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