In this piece, we will take a look at the thirty largest trading partners of the U.S. For the top 10 trading partners, take a look at 10 Largest Trading Partners of the U.S.
Despite a large decline in industrial production over the past few decades, the U.S. is still one of the world’s largest economies and the second largest exporter. According to data from the United Nations, America’s exports stood at $1.75 trillion in 2021, for a billion dollar lead over Germany, the world’s third largest exporter, and a large lag behind China, the largest exporter on the globe.
A little known fact about the U.S. is that its largest exports are processed petroleum products and crude oil. This is unsurprising though, as a well-developed fracking industry and the largest oil companies in the world are both found in America. For instance, Chevron Corporation (NYSE:CVX) has a market capitalization of $349 billion and Exxon Mobil Corporation (NYSE:XOM) is even larger as it is valued at $468 billion on the open market. They are two of the three largest oil companies, and the only larger entity is Saudi Aramco – a firm owned by the Saudi government.
However, America isn’t known only for its oil and gas exports. Courtesy of chipmakers such as Intel Corporation (NASDAQ:INTC) and GLOBALFOUNDRIES Inc. (NASDAQ:GFS), integrated circuits are the U.S.’ fifth largest export – with a total value of $52 billion was only $2 billion shy of the fourth largest item – cars. Once again, when it comes to automobiles, America once again has the leading players in the world apart from Germany and Japan. Not only are legacy carmakers such as Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) a central part of the American economy, but the world’s first electric vehicle mass production firm Tesla, Inc. (NASDAQ:TSLA) is also American.
Yet, even though the world’s largest smartphone company Apple Inc. (NASDAQ:AAPL) is also American, U.S. smartphone exports stood at $31 billion in 2021. This surprising fact touches upon a controversial point for America’s economy, known as the trade deficit. While America had cumulatively sold $1.75 trillion of products in 2021, it had also bought $2.9 trillion of goods and services – leading to more goods moving out of the U.S. than had moved in. Where does Apple fit in? Well, despite being an American company, Apple’s iPhones are actually imported into the U.S. as they are manufactured by Hon Hai Precision Industry Co., Ltd. (OTCMKTS:HNHPF), or Foxconn, in China. This then ends up distorting the data, as products sold with American branding actually end up being imported into the U.S. instead.
Pixabay/Public Domain
Our Methodology
We used import and export data from the United Nations to determine America’s largest trading partners. For the ranking, the imports and exports have been summed up.
30 Largest Trading Partners of the U.S.
30. Republic of the Philippines
Total Trade With the U.S. in 2021: $23 billion
The Republic of the Philippines, or simply the Philippines, is a Southeast Asian country that consists of thousands of Islands. The U.S. imported $14 billion of goods and services from the Philippines in 2021 and exported $9 billion in return. America imports machinery, leather goods, edibles, and other products from the country.
29. Kingdom of Saudi Arabia (KSA)
Total Trade With the U.S. in 2021: $24.8 billion
The Kingdom of Saudi Arabia (KSA) is a Middle Eastern country that is the world’s premier oil exporter. Its exports to the U.S. were $13.7 billion in 2021, alongside imports of $11.1 billion for a small trade deficit. Most of Saudia’s U.S. imports were of machinery, cars, aircraft, and medicines. On the other hand, fuel made up for the bulk of American imports.
28. Republic of Colombia
Total Trade With the U.S. in 2021: $29.9 billion
The Republic of Colombia is a South American country located at the Northern tip of the region. It imported $16.7 billion of goods from the U.S. in 2021 and exported $13.2 billion in return. Most of the American imports were oil, minerals, cement, farm products, metals, and other basic products.
27. State of Israel
Total Trade With the U.S. in 2021: $31.6 billion
The State of Israel is a Middle Eastern country that exported $18.7 billion of goods and services to America and imported $12.9 billion in return for a large trade deficit. The majority of the American purchases covered precious stones, metals, electronic equipment, and medical equipment while the Israelis bought machinery and mechanical products in return.
26. Republic of Chile
Total Trade With the U.S. in 2021: $32.4 billion
The Republic of Chile is a South American country. Its American imports were $17 billion in 2021 while the exports stood at $15 billion for a rare country with a trade deficit with the U.S. Oil, gas, electrical equipment, cars, and aircraft accounted for the majority of the U.S. exports.
25. Hong Kong Special Administrative Region of the People’s Republic of China
Total Trade With the U.S. in 2021: $34 billion
Hong Kong SAR is a Chinese territory in Asia that is one of the largest financial hubs in Asia. By the end of 2021, it had exported just $4.1 billion in goods to the U.S. but had imported a whopping $29 billion in return, for the largest trade deficit in our list. Chips, broadcasting equipment, and precious stones are the U.S.’ primary exports to Hong Kong.
24. Kingdom of Spain
Total Trade With the U.S. in 2021: $34.9 billion
The Kingdom of Spain is a prosperous European country with a colonial past. It has a small trade surplus with the U.S., by having exported $18.6 billion of goods but having imported $16.3 billion in return. Spain’s American imports are fuel oil, medicines, and machinery, while its exports are a wide variety of different products such as soap, gasoline, medicines, plastic, and machinery.
23. Russian Federation
Total Trade With the U.S. in 2021: $36 billion
The Russian Federation, or simply Russia, is Europe’s largest country in terms of landmass. America had a large $23 billion trade deficit with Russia in 2021, as its exports were a mere $6.1 billion while the imports stood at $29.6 billion. Minerals, oil, metals, steel, and iron were some of the U.S.’ largest imports. Russia is also a uranium supplier to America – a status that it maintained despite its Ukraine invasion.
22. Republic of Indonesia
Total Trade With the U.S. in 2021: $36.5 billion
The Republic of Indonesia is an Asian and Oceanic country that consists of more than a whopping 17,000 islands. The U.S. bought $27 billion of goods from Indonesia in 2021 but sold only $9.4 billion in return. Most of the American imports were of electronic equipment, clothing, and rubbers.
21. Commonwealth of Australia
Total Trade With the U.S. in 2021: $39 billion
The Commonwealth of Australia, or simply Australia, is a large Oceanic country. It is another rare country that has a trade deficit with the U.S., since it exported $12.5 billion in goods to America but ended up importing $26.5 billion. More than a quarter of Australia’s imports were machinery and other equipment, with transportation equipment and other products such as leather and chemicals also representing a large chunk.
20. Kingdom of Belgium
Total Trade With the U.S. in 2021: $54.7 billion
The Kingdom of Belgium is a prosperous European nation with a trade deficit with America. It imported $33 billion of American goods and exported $21 billion in return. The imports included alcohol, coal, and fuel while the exports were vaccines, vehicles, and medicines.
19. Kingdom of Thailand
Total Trade With the U.S. in 2021: $60.1 billion
The Kingdom of Thailand is a Southeast Asian country. It exported $47 billion in goods to the U.S. in 2021 and imported only $12.7 billion in return, for a sizeable trade deficit. A large chunk of Thai exports was of mechanical and electrical machinery with cars and medical instruments also having a large share
18. Republic of Singapore
Total Trade With the U.S. in 2021: $64.8 billion
The Republic of Singapore is both a city and a country with the largest per capita income in the world. It bought $35 billion of goods from the U.S. in 2021 and sold $29.5 billion in return. Singapore’s largest exports were chemicals and associated products.
17. Malaysia
Total Trade With the U.S. in 2021: $71.3 billion
Malaysia is a Southeast Asian country with $56 billion in exports to the U.S. and $15 billion in imports. Most of its exports to the U.S. are of machinery, which accounts for more than two thirds of the share. On the import side of things, Malaysia imported machinery and medical instruments from the U.S.
16. Federative Republic of Brazil
Total Trade With the U.S. in 2021: $78.3 billion
The Federative Republic of Brazil, or simply Brazil, is a Central and Latin American country that is the most prosperous in the region. It also had a trade deficit with the U.S. in 2021, through $47 billion of imports and $31.3 billion of exports. Main Brazilian imports and exports were mineral fuels, aircraft, and machinery; and mineral fuels, iron, and aircraft.
15. French Republic
Total Trade With the U.S. in 2021: $80 billion
The French Republic, commonly known as France is a developed European country and a global power. It exported $50.1 billion of products to America in 2021 and imported $29.9 billion in return. France was America’s third largest EU 27 export market in 2019, and commodities, planes, turbines, paintings, and wines were its top export products.
14. Italian Republic
Total Trade With the U.S. in 2021: $82.7 billion
The Italian Republic, or Italy, is a prosperous European nation with a large ($39 billion) trade deficit with the U.S. Italy’s imports stood at $21.7 billion in 2021 while its exports were $61 billion. Medicines, jewelry, and cars were the largest export products bought by America.
13. Swiss Confederation
Total Trade With the U.S. in 2021: $86.9 billion
The Swiss Confederation is another developed European country. It bought $23.7 billion of American products in 2021 and sold $61.0 billion in return. Top Swiss exports were pharmaceutical products, commodities, machinery, and farm products, with the imports being gold, art, and pharmaceuticals.
12. Republic of Ireland
Total Trade With the U.S. in 2021: $87.5 billion
The Republic of Ireland is a European country that was the second biggest EU27 exporter to the U.S. in 2019. Ireland also has a sizeable trade deficit with the U.S., as it sold $73.7 billion of products to America but bought only $13.8 billion in return. Some American exports are chips, chipmaking machinery, and aircraft.
11. Netherlands
Total Trade With the U.S. in 2021: $88.2 billion
The Netherlands is a prosperous and developed European country. It had a big trade deficit with the U.S. in 2021, evident from the fact that it was America’s second largest export market in the EU27 in 2019. The Dutch had imported $53 billion of U.S. products in 2021, with the bulk being oil, minerals, cement, rubber, plastic, and associated products.
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Disclosure: None. 30 Largest Trading Partners of the U.S. is originally published on Insider Monkey.