U.S. trade decreases 1.20 percent through October
U.S. trade with the world totaled $3.47 trillion through the first 10 months of 2019, according to a WorldCity analysis of the latest U.S. Census Bureau data.
That’s a 1.20 percent decrease since the same time period last year. The nation’s exports dropped 1.23 percent to $1 trillion and imports dropped 1.18 percent to $2.1 trillion. The overall trade deficit was $725 billion down compared to the same period last year, when the deficit was $732 billion.
Through October, the nation’s top trade partners were No. 1 Mexico, No. 2 Canada, No. 3 China, No. 4 Japan and No. 5 Germany. The same time period last 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 Mexico’s trade rose 1.05 percent to $518 billion. Exports fell 2.78 percent to $216 billion. Imports rose 4 percent to $301 billion.
- No. 2 Canada’s trade fell 1.38 percent to $514 billion. Exports fell 2.05 percent to $246 billion. Imports fell 0.75 percent to $267 billion.
- No. 3 China’s trade fell 14.51 percent to $470 billion. Exports fell 14.48 percent to $88 billion. Imports fell 14.51 percent to $382 billion.
- No. 4 Japan’s trade rose 2.01 percent to $183 billion. Exports rose 0.85 percent to $62 billion. Imports rose 2.62 percent to $121 billion.
- No. 5 Germany’s trade rose 2.84 percent to $157 billion. Exports rose 4.93 percent to $51 billion. Imports rose 1.88 percent to $107 billion.
The nation’s top five trading partners through October accounted for 46.92 percent of its trade with the world.
The U.S. had trade surpluses with 130 countries and deficits with 102 through October. That compares with 129 surpluses and 103 deficits for the same period one year earlier. The top three surpluses through October of this year were with Hong Kong, $22 billion; The Netherlands, $18 billion; Belgium, $13 billion. The top three deficits were with China, $294 billion; Mexico, $85 billion; and Japan, $59 billion.
January - October 2019
Top US Exports
Top 10 Total YTD: $533.67 billion
|1||Civilian aircraft, parts||$130,383,851,940|
|2||Gasoline, other fuels||$94,217,170,145|
|3||Motor vehicles for transporting people||$51,442,572,109|
|5||Motor vehicle parts||$45,536,171,826|
|6||Low value shipments||$37,890,922,580|
|8||Cell phones, related equipment||$32,423,290,990|
|9||Medical instruments for surgeons, dentists, vets||$28,522,619,632|
|10||Petroleum gases, other gaseous hydrocarbons||$28,374,410,014|
January - October 2019
Top US Imports
Top 10 Total YTD: $882.79 billion
|1||Motor vehicles for transporting people||$174,946,808,328|
|3||Cell phones, related equipment||$109,377,444,826|
|5||Returned exports, without change||$75,338,393,412|
|6||Medicines in individual dosages||$71,196,418,725|
|7||Motor vehicle parts||$69,800,219,960|
|8||Gasoline, other fuels||$59,785,605,752|
|9||Plasma, vaccines, blood||$37,609,561,382|
The nation’s top five exports by value through October were civilian aircraft, parts; gasoline, other fuels; oil; motor vehicles for transporting people; and motor vehicle parts in that order. Those accounted for 22.69 percent of its total outbound trade.
The value of the nation’s top five imports through October were motor vehicles for transporting people; oil; cell phones, related equipment; computers; and returned exports, without change. They accounted for 22.99 percent of all inbound shipments.
Looking more closely at U.S. exports:
- No. 1 Civilian aircraft, parts fell 2.68 percent compared to last year, to $103 billion.
- No. 2 Gasoline, other fuels fell 8.15 percent compared to last year, to $72 billion.
- No. 3 Oil rose 40.53 percent compared to last year, to $53 billion.
- No. 4 Motor vehicles for transporting people rose 6.35 percent compared to last year, to $47 billion.
- No. 5 Motor vehicle parts fell 4.39 percent compared to last year, to $37 billion.
On the import side:
- No. 1 Motor vehicles for transporting people rose 2.62 percent compared to last year, to $147 billion.
- No. 2 Oil fell 20.06 percent compared to last year, to $108 billion.
- No. 3 Cell phones, related equipment fell 10.54 percent compared to last year, to $81 billion.
- No. 4 Computers fell 3.18 percent compared to last year, to $74 billion.
- No. 5 Returned exports, without change rose 14.57 percent compared to last year, to $71 billion.