Given that the U.S. has trade relations with more than 200 countries, regions, and territories, the infographic in this article makes trade relationships easier to understand, ranking the biggest trading partners of the U.S. in terms of goods trade alongside the value of exports and imports.
Without context, the chart above simply consists of large numbers. Below, we look at the actual goods moving between countries.
Overall, exports increased by 18% year-over-year. Here’s a look at some of the biggest recorded export items in 2022, alongside the dollar values:
- Crude oil: $47.5 billion
- Natural gas: $22.9 billion
- Civilian aircraft engines: $7.2 billion
- Soybeans: $7.0 billion
This list largest exports includes both commodities as well as items higher up on the economic complexity ladder, like airplane engines.
Imports increased by 15% last year. Interestingly, one of the top imports was crude oil—also one of the country’s top exports—equaling $65.1 billion. Here’s a look at the other big import items:
- Telecommunications equipment: $12.6 billion
- Pharmaceutical preparations: $18.8 billion
- Cell phones and other household goods: $11.0 billion
- Passenger cars: $19.0 billion
America’s largest imports tend to be vehicles and electronics. Non-tech goods like pharmaceuticals and furniture also rank high on the list.
While total trade (this time including both goods and services) dipped during the pandemic, the graph below reveals that trade figures are now higher than pre-pandemic levels and the overall deficit continues to increase.
Despite the trade deficit and a drop in manufacturing employment over time, U.S. industrial production has been increasing over the long term.
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