Top US Trading Partners
Total YTD: $2.44 trillion
U.S. trade decreases 2.76 percent through December
U.S. trade with the world rose to $3.64 trillion in 2016, according to a WorldCity analysis of the latest U.S. Census Bureau data.
That’s a 2.76 percent decrease since the previous year. The nation’s exports dropped 3.38 percent to $1.45 trillion and imports dropped 2.34 percent to $2.19 trillion. The overall trade deficit was $735.46 billion down compared to the same period last year, when the deficit was $737.07 billion.
Through December, the nation’s top trade partners were No. 1 China, No. 2 Canada, No. 3 Mexico, No. 4 Japan and No. 5 Germany. The previous year, the top five spots were held by No. 1 China, No. 2 Canada, No. 3 Mexico, No. 4 Japan and No. 5 Germany, respectively.
Taking a closer look at the leading U.S. trade partners:
- No. 1 China’s trade fell 3.26 percent to $578.59 billion. Exports fell 0.35 percent to $115.78 billion. Imports fell 3.96 percent to $462.81 billion.
- No. 2 Canada’s trade fell 5.42 percent to $544.03 billion. Exports fell 5.02 percent to $265.96 billion. Imports fell 5.8 percent to $278.07 billion.
- No. 3 Mexico’s trade fell 1.13 percent to $525.11 billion. Exports fell 2.29 percent to $230.96 billion. Imports fell 0.2 percent to $294.15 billion.
- No. 4 Japan’s trade rose 0.97 percent to $195.47 billion. Exports rose 1.27 percent to $63.26 billion. Imports rose 0.83 percent to $132.2 billion.
- No. 5 Germany’s trade fell 6.03 percent to $163.59 billion. Exports fell 1.17 percent to $49.36 billion. Imports fell 7.98 percent to $114.23 billion.
The nation’s top five trading partners through December accounted for 44.91 percent of its trade with the world.
The U.S. had trade surpluses with 133 countries and deficits with 101 through December. That compares with 132 surpluses and 102 deficits for the same period one year earlier. The top three surpluses through December of this year were with Hong Kong, $27.52 billion; The Netherlands, $24.23 billion; United Arab Emirates, $19.03 billion. The top three deficits were with China, $347.04 billion; Japan, $68.94 billion; and Germany, $64.87 billion.
Top US Exports
Top 10 Total YTD: $457.23 billion
|1||Civilian aircraft and parts||$120,784,293,905|
|2||Gasoline, other fuels||$64,060,949,502|
|3||Motor vehicles for transporting people||$53,807,477,416|
|4||Motor vehicle parts||$42,833,167,467|
|6||Landline, cellular phone equipment||$33,838,955,703|
|7||Low value shipments||$33,110,520,081|
|8||Medical instruments for surgeons, dentists, vets||$26,426,548,276|
January – December 2016
Top US Imports
Top 10 Total YTD: $744.85 billion
|1||Motor vehicles for transporting people||$171,379,878,407|
|2||Landline, cellular phone equipment||$103,965,741,756|
|6||Motor vehicle parts||$65,061,316,673|
|7||Imports of returned exports||$63,668,091,514|
|8||Gasoline, other fuels||$39,271,870,316|
The nation’s top five exports by value through December were civilian aircraft and parts; gasoline, other fuels; motor vehicles for transporting people; motor vehicle parts; and computer chips in that order. Those accounted for 21.78 percent of its total outbound trade.
The value of the nation’s top five imports through December were, motor vehicles for transporting people; landline, cellular phone equipment; oil; computers; and medicine. They accounted for 23.81 percent of all inbound shipments.
Looking more closely at U.S. exports:
- No. 1 Civilian aircraft and parts rose 1.57 percent compared to last year to $120.78 billion.
- No. 2 Gasoline, other fuels fell 14.25 percent compared to last year to $64.06 billion.
- No. 3 Motor vehicles for transporting people fell 2.78 percent compared to last year to $53.81 billion.
- No. 4 Motor vehicle parts fell 2.37 percent compared to last year to $42.83 billion.
- No. 5 Computer chips rose 4.98 percent compared to last year to $35.14 billion.
On the import side:
- No. 1 Motor vehicles for transporting people rose 2.5 percent compared to last year to $171.38 billion.
- No. 2 Landline, cellular phone equipment rose 2.45 percent compared to last year to $103.97 billion.
- No. 3 Oil fell 19.21 percent compared to last year to $101.85 billion.
- No. 4 Computers fell 4.48 percent compared to last year to $76.8 billion.
- No. 5 Medicine rose 4.95 percent compared to last year to $67.18 billion.
Through December the nation’s top five Custom’s Districts were No. 1 Los Angeles, No. 2 New York City, No. 3 Laredo, No. 4 Detroit and No. 5 Chicago . The same time period last year the top five spots were No. 1 Los Angeles, No. 2 New York City, No. 3 Laredo, No. 4 Detroit and No. 5 Chicago, respectively
Taking a closer look at the leading U.S. Customs districts:
- Trade with No.1 Los Angeles rose 1.11 percent to $398.13 billion.
Exports rose 3.92 percent to $118.74 billion. Imports fell 0.04 percent to $279.38 billion.
- Trade with No.2 New York City fell 3.52 percent to $356.93 billion.
Exports fell 4.93 percent to $136.67 billion. Imports fell 2.61 percent to $220.26 billion.
- Trade with No.3 Laredo fell 0.41 percent to $283.18 billion.
Exports fell 2.71 percent to $118.34 billion. Imports rose 1.32 percent to $164.84 billion.
- Trade with No.4 Detroit rose 1.24 percent to $247.19 billion.
Exports fell 1.35 percent to $118.04 billion. Imports rose 3.74 percent to $129.14 billion.
- Trade with No.5 Chicago fell 1.54 percent to $198.48 billion.
Exports fell 1.9 percent to $45.77 billion. Imports fell 1.43 percent to $152.71 billion.
The nation’s top five Customs districts through December accounted for 40.73 percent of U.S. trade with the world.
Among U.S. Customs districts, 12 registered surpluses and 34 registered deficits through December. That compares with 11 surpluses and 35 deficits for the same period one year earlier. The top three surpluses through December of this year were with Houston, $23.14 billion, Seattle $18.08 billion, and Miami $7.76 billion. The top three deficits were with Los Angeles, $160.64 billion, Chicago $106.94 billion, and New York City $83.58 billion.