Who are the US top trading partners?
The top five purchasers of U.S. goods exports in 2022 were: Canada ($356.5 billion), Mexico ($324.3 billion), China ($150.4 billion), Japan ($80.2 billion), and the United Kingdom ($76.2 billion).
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.
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.
The largest deficit in goods in the United States is with China.
| Rank | Country / Territory | China imports |
|---|---|---|
| - | ASEAN | 408.1 |
| - | European Union | 285.3 |
| 1 | United States | 177.6 |
| 2 | South Korea | 199.6 |
- Oil.
- Civilian Aircraft Parts.
- Gasoline and Other Fuels.
- Liquified Natural Gas (LNG) and Other Petroleum Gases.
- Passenger Vehicles.
Who dominates global trade? It is well recognised that China has become the world's largest trading nation. Less appreciated is the effect this has had in displacing the United States from its traditional dominance as a trading partner for other countries around the world.
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.
| United States Imports By Country | Value | Year |
|---|---|---|
| China | $448.02B | 2023 |
| Canada | $429.60B | 2023 |
| Germany | $162.96B | 2023 |
| Japan | $151.58B | 2023 |
NEW YORK -- Mexico has surpassed China to become the biggest exporter of goods to the U.S. in 2023, according to data released Wednesday.
Who is Brazil's biggest trading partner?
In 2022, Brazil's main export partners were China (26.8%), the United States (11.4%), Argentina (4.6%), the Netherlands (3.6%), Spain (2.9%); whereas imports came chiefly from China (23.2%), the United States (18.6%), Argentina (4.7%), Germany (4.6%), India (3.3% - data Comtrade).
Data released last week from the US Department of Commerce showed that Mexico surpassed China in 2023 to become the leading trade partner of the United States. While Mexico's exports to the US market rose by 4.6%, Chinese exports plummeted by 20% over the previous year, putting Mexico in first place.
The main products that United States exported to China are Soybeans ($18B), Integrated Circuits ($9.61B), and Crude Petroleum ($6.9B). During the last 27 years the exports of United States to China have increased at an annualized rate of 9.58%, from $12.7B in 1995 to $151B in 2022.
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.
The leading U.S. agricultural exports are grains and feeds, soybeans, livestock products, tree nuts, fruits, vegetables, and other horticultural products. The leading U.S. imports are horticultural and tropical products. Canada, Mexico, the European Union, and East Asia are major U.S. trade partners.
- China, P.R.: Mainland. 3,368.22.
- United States. 1,757.82.
- Germany. 1,636.50.
- Netherlands, The. 838.49.
- Japan. 756.17.
While the EU is Africa's biggest trading partner, followed by China and then intra-African trade, the researchers also examined Africa's trade with the US, UK and emerging economies such as India, Brazil and Turkey. The findings are instructive for those seeking to develop trading partnerships with the continent.
Main global trade patterns
The world's largest bilateral flows of merchandise trade run between China and the United States of America, and between their respective neighbouring economies.
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.
| National rank | State/territory | Largest market |
|---|---|---|
| 1 | Texas | Mexico |
| 2 | California | Mexico |
| 3 | New York | Canada |
| 4 | Washington | China |
Who buys most of China's goods?
Destinations In February 2024, China exported mostly to United States ($30.8B), Hong Kong ($15.1B), Japan ($9.57B), South Korea ($9.05B), and Vietnam ($8.23B), and imported mostly from Taiwan ($12.6B), United States ($11.9B), South Korea ($11.7B), Australia ($11.4B), and Japan ($10.3B).
China's economy has grown to one of the largest and most powerful in the world over the past few decades. Driven by industrial production and manufacturing exports, China's GDP is actually now the largest in terms of purchasing power parity (PPP) equivalence.
The Office of the United States Trade Representative (USTR) was created in 1962 to advise the President on trade issues, lead international trade negotiations, and oversee the resolution of disputes, enforcement actions and other matters before global trade policy organizations such as the World Trade Organization.
| Rank | Category of Good | % of Total Global Exports |
|---|---|---|
| #1 | Cars | 4.9% |
| #2 | Refined Petroleum | 3.0% |
| #3 | Integrated Circuits | 2.9% |
| #4 | Vehicle Parts | 2.5% |
Ukraine had the largest trade revenue with Poland, at over 12 billion U.S. dollars in 2022. China was Ukraine's second-leading trade partner, with the sum of exports from Ukraine and imports to Ukraine measured at approximately 11 billion U.S. dollars.
