United States (USA) Exports, Imports, and Trade Partners | The Observatory of Economic Complexity (2024)
Overview In February 2024 United States exported $167B and imported $243B, resulting in a negative trade balance of $75.2B. Between February 2023 and February 2024 the exports of United States have increased by $8.48B (5.33%) from $159B to $167B, while imports increased by $11.8B (5.13%) from $231B to $243B.
Growth In February 2024, the increase in United States's year-by-year exports was explained primarily by an increase in exports to Mexico ($1.84B or 7.36%), Netherlands ($1.47B or 25.4%), and Canada ($1.45B or 5.36%), and product exports increase in Aircraft Parts ($2.35B or 32.7%), Crude Petroleum ($1.32B or 14.6%), and Gold ($1.27B or 51.1%). In February 2024, the increase in United States's year-by-year imports was explained primarily by an increase in imports from Mexico ($4.56B or 12.8%), South Korea ($1.29B or 15.5%), and Vietnam ($1.29B or 15.5%), and product imports increase in Cars ($3.07B or 22.3%), Computers ($1.49B or 21.3%), and Vaccines, blood, antisera, toxins and cultures ($886M or 13.5%).
Overview In 2022, United States was the number 1 economy in the world in terms of GDP (current US$), the number 2 in total exports, the number 1 in total imports, the number 8 economy in terms of GDP per capita (current US$) and the number 10 most complex economy according to the Economic Complexity Index
Economic Complexity Index
June 2023) The Economic Complexity Index (ECI) is a holistic measure of the productive capabilities of large economic systems, usually cities, regions, or countries.
https://en.wikipedia.org › wiki › Economic_Complexity_Index
The Observatory of Economic Complexity (OEC) is the world's leading data visualization tool for international trade data. The OEC makes more than 50 years of international trade data available through dozens of millions of interactive visualizations.
The OEC is currently designed and developed by Datawheel, but it began as a research project at MIT's Collective Learning group (former Macro Connections Group).
The Observatory of Economic Complexity (OEC) is a data visualization site for international trade data created by the Macro Connections group at the MIT Media Lab. The goal of the observatory is to distribute international trade data in a visual form.
The United States is the world's 2nd-largest trading nation, behind only China, with over $7.0 trillion in exports and imports of goods and services in 2022.
An observatory is a location used for observing terrestrial, marine, or celestial events. Astronomy, climatology/meteorology, geophysics, oceanography and volcanology are examples of disciplines for which observatories have been constructed.
During the last 20 years United States's economy has become relatively less complex, moving from the 6th to the 10th position in the ECI rank. These economic complexity rankings use 6 digit exports classified according to the HS96 classification.
Economic Complexity In 2022, the world most complex economies were Chinese Taipei (2.19), Japan (2.17), Switzerland (2.02), South Korea (1.9), and Germany (1.8). In contrast, the world least complex economies were Democratic Republic of the Congo (-1.8), Liberia (-1.88), Chad (-2.04), Mali (-2.21), and Guinea (-2.29).
The Economics Observatory (ECO) is a new project that bridges the gap between academic research, government policy and the general public. Our goal is to provide balanced and reliable answers to questions about the economy. We make it our mission to make these answers as accessible and engaging as possible.
Economic Complexity. + A measure of the knowledge in a society as expressed in the products it makes. The economic complexity of a country is calculated based on the diversity of exports a country produces and their.
A one-point increase in the Economic Complexity Index reduces the probability of a fiscal crisis by half. This effect is robust across low-income, emerging, and advanced economies.
The state leads in 94 countries, including Canada, China, the U.K., and Germany. Texas is followed by California (25 countries) and Florida (24 countries). Exports from Texas to Mexico have an annual value of $144.29 billion—the highest value of exports from a U.S. state to any country.
OEC is a privately held company, a wholly owned subsidiary of Novonor, which provides services in the heavy civil construction and industrial construction, assembly and maintenance segments. The company, based in Brazil, primarily serves four markets: Brazil, Angola, Peru and the United States.
The Observatory of Economic Complexity, created by Alexander Simoes at Massachusetts Institute of Technology (MIT), ranks countries based on the amount of useful knowledge embedded in it. The ranking is based on the idea that a country's economy grows as the complexity and specialization of its products increases.
Economic Complexity Index (ECI) + A rank of countries based on how diversified and complex their export basket is. Countries that are home to a great diversity of productive know-how, particularly complex specialized know-how, are able to produce a great diversity of sophisticated products.
Introduction: My name is The Hon. Margery Christiansen, I am a bright, adorable, precious, inexpensive, gorgeous, comfortable, happy person who loves writing and wants to share my knowledge and understanding with you.
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