Top Facts and Figures About U.S. Exports

U.S. exports were led by machinery, electronic equipment, mineral fuels, vehicles and aircraft. Top destinations were Canada, China and Mexico.

According to Central Intelligence Agency (CIA) World Factbook, currently, United States is the third largest exporter after China and European Union. U.S. exports in 2013 amounted to US$1.579 trillion which is 49.4 percent up from the total registered in 2009.

U.S. Top Export Products

The top 10 export products of USA in 2013 (from 1 to 10 respectively) were Machinery (13.5 percent of overall U.S. exports), Electronic equipments (10.5 percent), Mineral fuels including oil (9.4 percent), Vehicles excluding streetcars  and trains (8.5 percent), Aircraft and spacecraft (7.3 percent), Medical, technical  and optical apparatus (5.3 percent), Precious metals, coins, metals and pearls (4.6 percent), Plastics (3.9 percent), Organic chemicals (2.9 percent), and Pharmaceutical products (2.5 percent). So, these top ten exports accounted for 68.4 percent of USA’s overall value of global exports in 2013.

Among the top ten U.S exports products mentioned above, mineral fuels including oil represent the fastest-growing export product making a 170.2 percent growth over the last five years. In the same period, exports of precious metals, precious stones, coins and pearls were 89.6 percent up while vehicles exports excluding streetcars and trains improved 81.6 percent.

U.S. Top Export Destinations/ Markets

In 2010, the top 10 export markets of U.S. products (from 1 to 10 respectively) were Canada ($228 Billion), Mexico ($149 Billion), China ($82 Billion), Japan ($55 Billion), United Kingdom ($44 Billion), Germany ($44 Billion), South Korea ($35 Billion), Brazil ($32 Billion), The Netherlands ($31 Billion), and Singapore ($26 Billion). Over the last decade or so, Canada and China are in the top of this list.

U.S. Exports by States

Over the last three-four years, the top ten exporting states of USA (from 1 to 10 respectively) are Texas, California, New York, Washington, Illinois,  Florida, Louisiana, Michigan, Ohio and Pennsylvania.

Here are some additionl facts and figures with respect to U.S. exports:

  • According to World Economic Outlook Database of the International Monetary Fund (IMF), in 2013, USA’s total Gross Domestic Product (GDP) amounted to $16.724 trillion. So, export accounted for approximately 9.4% of America’s economic output in 2013. But in 1968, 2003 and 2008 the contribution of exports in national GDP were 5.3 percent, 9.5 percent and 13.1 percent respectively.
  • The CIA World Factbook states that America’s current population is 316.4 million and an export of $1.579 trillion in the year 2013 translate to approximately $4,989 for every American. Assuming an estimated global population of 7,095,217,980, the US per person export is double of per person benchmark exports of $2,545 for the world’s total exports.
  • In 2010, U.S. exports were $1.3 trillion and import $1.9. So, the deficit was over $600 billion. Canada is the leading importer of U.S. products. In last three years, (2011, 2012, and 2013), U.S exported in goods to Canada were $281,291.5 million, $292,539.7 million and $300,346.9 million respectively.
  • European Union is a major trade partner of United States. According to United States Census Bureau, U.S. exports in goods with EU in last three years (2011, 2012, and 2013) were $268,455.3 million, $ 265,359.6 million and $262,116.1 million respectively. But U.S. exports in goods to EU in 2000, 2001 and 2002 were $168,181.1 million, $161,931.0 million and $146,621.2 million respectively. So, there is a notable increase in the amount of exports from USA to EU over the last decade.
  • The difference of U.S. exports to EU and Canada gives a clear understanding of how big an importer that Canada is for USA. And the amount of U.S. exports to Canada is increasing faster as the current export to Canada is 77 percent up from 2003 and 319 percent up from 1993. Again, in 2013, U.S. exports to Canada account for 19 percent of overall U.S. exports. Private commercial services exports from USA to Canada in 2012 were $61.2 billion which is 145 percent up from the amount of service export in 2002.

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References
http://www.worldstopexports.com/united-states-top-10-exports/2001
http://www.worldstopexports.com/united-states-top-10-exports/2001
http://wtcno.org/tradestats/staterankings.htm
http://www.statisticbrain.com/u-s-export-statistics/
http://www.census.gov/foreign-trade/balance/c0003.html
http://www.ustr.gov/countries-regions/americas/canada

 

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