United States2021 Economic Complexity Trade : 1.46, Rank 10 of 131
2021 Economic Complexity Technology : 0.87, Rank 25 of 96
2021 Economic Complexity Research : 2.41, Rank 1 of 140
2021 Product Exports | Imports: $1.63T | $2.73T, 2 of 226 | 1 of 226
2021 Per Capita Product Exports | Imports: $4.91k | $8.22k, 47 of 219 | 71 of 219
Overview In 2021, United States was the number 1 economy in the world in terms of GDP (current US$), the number 2 in total exports, the number 1 in total imports, the number 7 economy in terms of GDP per capita (current US$) and the number 10 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of United States are Refined Petroleum ($83.3B), Petroleum Gas ($70.9B), Crude Petroleum ($67.6B), Cars ($55.4B), and Integrated Circuits ($51.3B), exporting mostly to Canada ($259B), Mexico ($247B), China ($151B), Japan ($71.8B), and South Korea ($66.4B).
In 2021, United States was the world's biggest exporter of Refined Petroleum ($83.3B), Petroleum Gas ($70.9B), Medical Instruments ($30.2B), Gas Turbines ($30B), and Corn ($18.8B)
Imports The top imports of United States are Cars ($139B), Crude Petroleum ($120B), Computers ($102B), Broadcasting Equipment ($101B), and Packaged Medicaments ($86.3B), importing mostly from China ($530B), Mexico ($361B), Canada ($355B), Germany ($135B), and Japan ($128B).
In 2021, United States was the world's biggest importer of Cars ($139B), Computers ($102B), Broadcasting Equipment ($101B), Packaged Medicaments ($86.3B), and Motor vehicles; parts and accessories (8701 to 8705) ($77.7B)
Location United States borders Canada and Mexico by land and Bahamas by sea.
March, 2023
Overview In March 2023 United States exported $184B and imported $263B, resulting in a negative trade balance of $78.4B. Between March 2022 and March 2023 the exports of United States have increased by $5B (2.79%) from $179B to $184B, while imports decreased by $-34.1B (-11.5%) from $297B to $263B.
Trade In March 2023, the top exports of United States were Crude Petroleum ($11.7B), Refined Petroleum ($10.2B), Aircraft Parts ($9.88B), Petroleum Gas ($6.39B), and Commodities not elsewhere specified ($6.06B). In March 2023 the top imports of United States were Cars ($16.8B), Crude Petroleum ($13.5B), Commodities not elsewhere specified ($11.3B), Packaged Medicaments ($8.83B), and Telephones ($8.76B).
Origins In March 2023 the exports of United States were mainly from Texas ($40.6B), California ($16.3B), Louisiana ($9.95B), New York ($8.28B), and Illinois ($7.43B), while imports destinations were mainly California ($37.7B), Texas ($32.6B), Illinois ($18.9B), Michigan ($14.2B), and New York ($13.6B).
Destinations In March 2023, United States exported mostly to Canada ($31.8B), Mexico ($29.3B), China ($14.2B), Netherlands ($7.76B), and Germany ($7.5B), and imported mostly from Mexico ($42.8B), Canada ($37.6B), China ($30.8B), Germany ($14.1B), and Japan ($12.9B).
Growth In March 2023, the increase in United States's year-by-year exports was explained primarily by an increase in exports to Netherlands ($1.57B or 25.4%), Germany ($874M or 13.2%), and China ($806M or 6.03%), and product exports increase in Crude Petroleum ($2.51B or 27.4%), Aircraft Parts ($2.4B or 32.1%), and Vaccines, blood, antisera, toxins and cultures ($1.88B or 49.3%). In March 2023, the decrease in United States's year-by-year imports was explained primarily by an decrease in imports from China ($-16.6B or -35%), Switzerland ($-6.18B or -57.6%), and Vietnam ($-3.25B or -28.4%), and product imports decrease in Other Precious Metal Products ($-5.53B or -77%), Crude Petroleum ($-3.56B or -20.9%), and Computers ($-2.94B or -25.9%).
EXPORT GROWTH (March 2022 - March 2023): $5B, (2.79%)
IMPORT GROWTH (March 2022 - March 2023): $-34.1B, (-11.5%)
MAIN EXPORTER (March 2023): Texas, $40.6B
MAIN DESTINATION (March 2023): Canada, $31.8B
This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of United States over time.
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Top Export (2021): Refined Petroleum, $83.3B
Top Destination (2021): Canada, $259B
In 2021, United States exported a total of $1.63T, making it the number 2 exporter in the world. During the last five reported years the exports of United States have changed by $281B from $1.35T in 2016 to $1.63T in 2021.
The most recent exports are led by Refined Petroleum ($83.3B), Petroleum Gas ($70.9B), Crude Petroleum ($67.6B), Cars ($55.4B), and Integrated Circuits ($51.3B). The most common destination for the exports of United States are Canada ($259B), Mexico ($247B), China ($151B), Japan ($71.8B), and South Korea ($66.4B).
United States Exports Services (2018): $746B
United States Imports Services (2018): $480B
In 2018, United States exported $746B worth of services. The top services exported by United States in 2018 were Personal travel ($158B), Miscellaneous business, professional, and technical services ($130B), Financial services ($114B), Other royalties and license fees ($93.7B), and Air transport ($69.1B).
The top services imported by United States in 2018 were Personal travel ($107B), Miscellaneous business, professional, and technical services ($73B), Air transport ($69.2B), Other royalties and license fees ($39.3B), and Reinsurance ($38.2B).
This section shows exports, imports and economic complexity data at the subnational level for United States. Click any of the State in the geomap to visit the specific subnational profile.
The top territories of United States according to its Economic Complexity Index are New Hampshire (0.64), Connecticut (0.6), and Massachusetts (0.57).
The principal exporters of United States were Texas ($486B), California ($186B), and Louisiana ($122B).
The same year, the principal importers of United States were California ($509B), Texas ($384B), and Illinois ($244B).
United States has a high level of specialization in Sorghum (8.14), Starch Residue (7.47), Forage Crops (6.11), Other Nuts (5.36), and Oil Seed Flower (5.17). Specialization is measured using RCA, an index that takes the ratio between United States observed and expected exports in each product.
The highest complexity exports of United States according to the product complexity index (PCI) are Photographic plates and film; exposed and developed, other than cinematographic film (2.38), Photographic (including cinematographic) laboratory apparatus and equipment, n.e.c. in chapter 90; negatoscopes;... (2.07), Chemical preparations for photographic uses (other than varnishes, glues, adhesives and similar... (2.02), Chemical elements doped for use in electronics, in the form of discs,... (1.94), and Esters of other inorganic acids of non-metals (other than of hydrogen halides)... (1.92). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for United States according to the relatedness index, were Nickel Powder (0.43), Microscopes (0.41), Phosphides (0.41), Radioactive Chemicals (0.41), and Horses (0.41). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that United States is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.
During the last 20 years United States's economy has become relatively less complex, moving from the 5th to the 10th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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