Quick Answer: Who Is America’S Biggest Trading Partner?

What is America’s biggest import?

What Are the Major U.S.

Imports?Machinery (including computers and hardware) – $386.4 billion.Electrical machinery – $367.1 billion.Vehicles and automobiles – $306.7 billion.Minerals, fuels, and oil – $241.4 billion.Pharmaceuticals – $116.3 billion.Medical equipment and supplies – $93.4 billion.More items…•.

What country has the best trade?

Year-to-Date Total TradeRankCountryPercent of Total Trade—Total, All Countries100.0%—Total, Top 15 Countries72.5%1Canada16.4%2China14.6%13 more rows•Oct 6, 2020

What does the US get from China?

Trade in services with China (exports and imports) totaled an estimated $76.7 billion in 2019. Services exports were $56.5 billion; services imports were $20.1 billion. The U.S. services trade surplus with China was $36.4 billion in 2019.

Who is the biggest importer in the world?

the United StatesThe world’s largest single importer is the United States, with a 13.4% share of global imports equal to $2.6 trillion of goods. Following the U.S. are two other significant economies, each which import over $1 trillion in goods every year: China ($2.1 trillion), and Germany ($1.3 trillion).

What if we stopped buying from China?

If the rest of the world stopped buying from China today. The world economy would pretty much collapse. Everyone would scramble around trying to fix it. … Our supply chains are very entwined with China and it would take massive investment of time, money, talent, and resources to adapt to such a big change.

How much of our imports come from China?

U.S. goods imports from China totaled $539.5 billion in 2018, up 6.7% ($34.0 billion) from 2017, and up 59.7% from 2008. U.S. imports from are up 427% from 2001 (pre-WTO accession). U.S. imports from China account for 21.2% of overall U.S. imports in 2018.

What is the US biggest export?

Soybeans were the number one product in this category, with sales of $22 billion, followed by meat and poultry at $18 billion. Crude oil, fuel and other petroleum products: $109 billion. This is one of the fastest growing areas of US exports, up 37% in just the last year.

Who is the biggest exporter in the world?

ChinaChina has been the largest exporter of goods in the world since 2009. 1 Official estimates suggest the country’s total exports amounted to $2.641 trillion in 2019. 2 In 2013, China became the largest trading nation in the world. 1 The United States previously held that position.

What China produces the most?

Searchable List of China’s Most Valuable Export ProductsRankChina’s Export Product2019 Value (US$)1Phone system devices including smartphones$224,069,819,0002Computers, optical readers$148,463,426,0003Integrated circuits/microassemblies$102,187,884,0004Processed petroleum oils$38,345,208,0006 more rows•Sep 27, 2020

Where does the US get its oil?

The largest sources of U.S. imported oil were: Canada (49%), Mexico (7%), Saudi Arabia (6%), Russia (6%), and Colombia (4%). According to the American Petroleum Institute, the oil and natural gas industry supports nine million U.S. jobs and makes up seven percent of the nation’s gross domestic product.

Who is the US number 1 trading partner?

List of the largest trading partners of the United StatesRankCountry/DistrictExports1China129,8942Canada282,2653Mexico243,3144Japan67,60529 more rows

What is China’s main export to the US?

China’s top exports are broadcasting equipment ($231B), computers ($146B), office machine parts ($90.8B), integrated circuits ($80.1B) and telephones ($62B), according to 2017 data from the Observatory of Economic Complexity, a Massachusetts Institute of Technology-linked trade tracker.

Who is Brazil’s biggest trading partner?

In 2017, Brazil major trading partner countries for exports were China, United States, Argentina, Netherlands and Japan and for imports they were China, United States, Argentina, Germany and Korea, Rep..

What is Russia’s relationship with China?

Russia has a negative trade balance with China: in 2016 exports amounted to 28 billion, imports – 38.1 billion (in 2015, respectively 28.6 and 35.9 billion). The share of China in foreign trade of Russia grew from 12.1% in 2015 to 14.1% in 2016. Since 2010 China is the largest trading partner of Russia.

What 5 countries do we import the most from?

The United States imports half of its total volume from five countries: China, Canada, Mexico, Japan, and Germany. Although the United States can manufacture goods it imports, these exporting countries have the comparative advantage over it.

Who are the best traders in the world?

The World’s 10 Most Famous Traders of All TimeJesse Livermore. Jesse Lauriston Livermore (1877–1940) was an American trader famous for both colossal gains and losses in the market. … William Delbert Gann. … George Soros. … Jim Rogers. … Richard Dennis. … Paul Tudor Jones. … John Paulson. … Steven Cohen.More items…•

Who are the 10 largest trading partners with the US in order?

Also shown is each import country’s percentage of total American exports.Canada: US$292.4 billion (17.8% of total US exports)Mexico: $256.4 billion (15.6%)China: $106.6 billion (6.5%)Japan: $74.7 billion (4.5%)United Kingdom: $69.2 billion (4.2%)Germany: $60.3 billion (3.7%)South Korea: $56.9 billion (3.5%)More items…•

Who is China’s biggest trading partner?

China’s Top Trading PartnersUnited States: US$418.6 billion (16.8% of China’s total exports)Hong Kong: $279.6 billion (11.2%)Japan: $143.2 billion (5.7%)South Korea: $111 billion (4.4%)Vietnam: $98 billion (3.9%)Germany: $79.7 billion (3.2%)India: $74.9 billion (3%)Netherlands: $73.9 billion (3%)More items…•

Who does the US export the most to?

Rounding out the list of America’s top trading partners in terms of U.S. export sales, the following 15 countries ranked highest in 2018.Canada: US$300 billion (18% of total US exports)Mexico: $265 billion (16%)China: $120 billion (7.4%)Japan: $75.2 billion (4.6%)United Kingdom: $66.3 billion (4.1%)More items…

Which country has the largest trade?

Year-to-Date Total TradeRankCountryExports—Total, All Countries918.0—Total, Top 15 Countries643.11Mexico134.52Canada163.113 more rows•Oct 6, 2020

Who is Iran’s biggest trade partner?

China, the United Arab Emirates,and the EU are now Iran’s main trading partners, accounting for 19.5%, 16.8% and 16.3% respectively. The EU used to be the first trading partner of Iran before the current sanctions regime.