Is your company interested in exporting or expanding its exports? If you said yes, you’re not alone. In 2019, U.S. companies exported over $1.65 trillion worth of goods. These U.S. exporters are shipping all kinds of products to all parts of the world. Let’s look at some of the things that the United States is busy exporting and the countries that buy them.
It may not be a surprise that the United States exported $55.2 billion worth of passenger cars in 2019, but did you know that the country also shipped over $19.6 billion of soybeans overseas last year? Below are just a few of the products exported from the United States in 2019.
Your company can find out just how much the United States exports by product through the U.S. Census Bureau.
Almost every type of American product is finding a vibrant market abroad. Is your company searching for a foreign marketplace? Let’s look at some of the largest international markets for U.S. products.
With its close proximity to the United States, Canada is the top importer of U.S. goods. In 2019, Canada imported almost $293 billion of U.S. exports. That includes everything from $21 billion worth of vehicle parts and accessories to $27 million of leather and fur.
Canada imports nearly every product the U.S. exports. Find how much Canadian demand there is for your company’s product by end-use code.
Our North American neighbor to the south purchased over $256 billion of U.S. exports, making Mexico the second largest importer of U.S. goods. Mexico imported $21 billion of vehicle parts and accessories virtually tying Canada. But when it comes to computer accessories, Mexico leaves Canada far behind, importing $15.2 billion worth from the United States. That is greater than six and half times more than Canada.
Mexico is a thriving market for U.S. products. Click here to see what Mexico is importing from the United States.
With a new trade agreement and an affinity for U.S. products, China is the third largest U.S. goods importer. In 2019, China purchased products from the United States totaling $106.6 billion. This included $8 billion worth of soybeans and $7.2 billion worth of cars. Surprisingly, in a country known for exporting computer accessories, China imported $1 billion of them from the United States.
With a population over 1.4 billion and a growing middle class, China is a market that is seeing a continued growth in demand for all types of products. Learn more about the U.S. products that China is importing.
Japan and the United States have been strong trade partners for years. With the signing of the United States-Japanese Free Trade Agreement in October 2019, Japan’s appetite for U.S. products has only grown. To fulfill the needs of its 126 million citizens, Japan imports over $4.8 billion worth of natural gas, $3.6 billion in meat and poultry, and $1.9 billion of telecommunications equipment from the United States.
The close relationship that Japan and the United States have enjoyed has driven the demand for U.S. products. Curious to find Japanese demand for your product? Click here.
The United Kingdom
Since the United Kingdom is the largest direct investment partner to the United States, it is no surprise that it lands solidly in the top five importers of U.S. products. One of the most interesting U.S. exports to the United Kingdom are the $3.2 billion of artwork and antiques that were imported in 2019.
The United Kingdom holds the distinction of being the oldest trading partner with the United States and has continued to import nearly every type of product the United States has to offer. Check what they are buying.
Below we round out the top 15 U.S. goods importers.
6 – Germany
7 – South Korea
8 – The Netherlands
9 – Brazil
10 – France
11 – India
12 – Taiwan
13 – Italy
14 – Vietnam
15 – Ireland
Want to learn more? The United States Census Bureau has information on every U.S. trade partner.
Whether you are currently exporting or just thinking about it, the Export-Import Bank of the United States (EXIM) has export finance solutions to increase your company’s international sales. EXIM’s product line is designed to minimize the risk of foreign buyer nonpayment, enable you to sell on open account credit terms, and provide access to working capital. Free consultations are available to learn how EXIM can help.