Who is the United States largest trading partner how much do the two countries exchange in trade in a year? (2024)

Who is the United States largest trading partner how much do the two countries exchange in trade in a year?

U.S. trade with other nations is worth $4.9 trillion per year. China, Canada and Mexico are the country's largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports.

Who is the largest US trading partner?

Which country is the largest trading partner of all countries?

China is the largest trading partner to Japan, South Korea, Vietnam, and Taiwan. Given their proximity, those countries are hardly a surprise.

Is the EU the largest trading partner of the US?

EU trade relations with the United States. Facts, figures and latest developments. The European Union and the United States have the largest bilateral trade and investment relationship and enjoy the most integrated economic relationship in the world.

What does the U.S. trade with other countries?

The most recent exports are led by Refined Petroleum ($138B), Crude Petroleum ($118B), Petroleum Gas ($116B), Cars ($57.5B), and Integrated Circuits ($49.8B).

Is the U.S. China's largest trading partner?

China's Share in U.S. – World Trade

China has the third largest share in U.S.–World Trade following Mexico and Canada. In 2021, 8.6% of total U.S. exports of $1.8 trillion to the World were exported to China and 17.9% of total U.S. Imports of $2.8 trillion were imported from China.

Who is the largest trading partner of the U.S. if both imports and exports are counted?

And we do import a lot of things from China, but in terms of both imports and exports, our largest trading partner is not China, it's Canada. The U.S. and Canada trade over 600 billion dollars worth of goods and services each year.

Which are the top 3 trading partners exports and imports for the United States as of 2018?

In 2018, United States major trading partner countries for exports were Canada, Mexico, China, Japan and United Kingdom and for imports they were China, Mexico, Canada, Japan and Germany.

How much does the U.S. trade with China?

China Trade & Investment Summary

Exports were $195.5 billion; imports were $562.9 billion. The U.S. goods and services trade deficit with China was $367.4 billion in 2022. U.S. goods exports to China in 2022 were $154.0 billion, up 1.7 percent ($2.6 billion) from 2021 and up 39 percent from 2012.

What country is China's biggest customer?

The most common destination for the exports of China are United States ($551B), Hong Kong ($276B), Japan ($178B), Germany ($152B), and South Korea ($150B).

Who does China trade with the most?

What does the US sell to China?

US goods exports to China come from a wide range of industries including transportation equipment, agriculture, computers and electronics, and oil and gas, sustaining logistics jobs in America's ports and throughout the country.

What are the top 3 imports of the United States?

How much of US trade is with the EU?

U.S. exports to the European Union account for 17.0 percent of overall U.S. exports in 2022. The U.S. goods trade deficit with the European Union was $202.5 billion in 2022, a 7.3 percent decrease ($15.8 billion) over 2021.

Who is Europe's largest trade partner?

Over the past two decades, the share of EU imports flowing from China has almost tripled, from around 8 percent in 2002 to over 22 percent in 2021, making China the EU's largest import partner.

What country does the U.S. not trade with?

Embargoed sanctioned countries (currently CUBA, IRAN, NORTH KOREA, and SYRIA) prohibit ALL transactions (including imports, exports, and financial transactions) without a license authorization. Targeted sanctions prohibit certain exports of items, technical data and/or software without a license authorization.

What is America's number one export?

1. Oil: $117 billion. Oil exports held steady, growing by just . 11% from $117.03 billion in 2022 to $117.16 billion in 2023, though the share of total U.S exports increased from 5.7% to 5.8%.

Which country does America have the largest trade deficit with?

The largest deficit in goods in the United States is with China.

Who is Russia's biggest trading partner?

Major trade partners of Russia 2021, by value

In 2021, Russia's main trade partner was China, as the volume of export and import trade between the two countries reached nearly 141 billion U.S. dollars. China was the country's both leading import origin and export destination.

Is Mexico the US largest trading partner?

New numbers from the US Census last week indicate that Mexico is the US's top trading partner. In 2023, the US traded $798bn with Mexico as the goods it bought from its southern neighbour surged past China and Canada.

What percent of US goods are made in China?

Of the 2.7% of U.S. consumer purchases going to goods labeled “Made in China,” only 1.2% actually represents China-produced content. If we take into account imported intermediate goods, about 13.9% of U.S. consumer spending is attributable to imports, including 1.9% imported from China.

What is China's top import?

Mechanical and electronic products made up 40 percent of the country's goods imports. In 2022, China's major import products included integrated circuits, crude oil, and iron ore. China's agricultural sector has been increasingly relying on imports in the last few years as well.

Who is world's largest exporter?

CHINA. With the second-largest economy in the World, China is the leader in exports. China exported nearly $3.59 trillion worth of goods in 2022.

Are trade deficits always bad?

A trade deficit is neither inherently entirely good or bad, although very large deficits can negatively impact the economy.

What is Mexico's main export?

Among Mexico's major exports are machinery and transport equipment, steel, electrical equipment, chemicals, food products, and petroleum and petroleum products. About four-fifths of Mexico's petroleum is exported to the United States, which relies heavily on Mexico as one of its principal sources of oil.