US IMPORT EXPORT DATA

The USA is known as the biggest importer and exporter nation in the world. The market in the United States is so vibrant and massive that there is always a chance to grab new opportunities and market avenues. The contribution of the US is also the largest when compared to trade statistics of other countries. On the economic front, the US is the nation that comes with the most developed and advanced economy in the world, and you would be surprised to know that the trade market of the United States is also the biggest, most active, and most competitive in nature.

The US Trade Data figures are also so amazing and large that they make the US market the ideal option for all traders and marketers to trade their goods there. In this article, we are going to share some useful insights about the US trade market, accompanied by some statistical facts.

US TRADE DATA FOR THE YEAR 2022

Being a country with a huge variety of products and services, the demand for all the goods in the country usually remains high. Due to this fact, the US is forced to import certain goods from other countries to fulfill the demands of its citizens. As per the US Import Data for the year 2022, the imports made by the United States touched USD 3.37 trillion. This amount was comparatively higher than the last year, 2021 when the total imports were close to USD 2.93 trillion.

The major import partners of the US, as per the US Import Data in the year 2022 were:

• China (USD 575.71B)

• Mexico (USD 459.20B)

• Canada (USD 448.33B)

• Japan (USD 154.44B)

• Germany (USD 150.46B)

Other countries that were there in the rundown were namely, Vietnam, Korea, and India.

The major products imported to the United States as per the US Import Data 2022, were electrical machines, automobiles, mineral fuels and oils, medical items, and plastic products.

Similarly, the USA exported multiple products too across the globe to fulfill the varied demands of global consumers. As per the US Export Data for the year 2022, the USA exported goods worth USD 2.06 trillion. The major export partners of the nation were:

• Canada (USD 354.99 billion)

• Mexico (USD 324.37 billion)

• China (USD 153.83 billion)

• Japan (USD 80.31 billion)

• The UK (USD 77.3 billion)

Other major countries to whom the US exported the most were Germany, the Netherlands, and Korea. The majority of goods that were exported from the nation were crude oil, machines, automobiles, and aircraft.

The past 5 years’ trend of total imports to the United States is mentioned below for the years 2018-2022.

TOTAL IMPORT-EXPORT TRADE OF THE UNITED STATES (2018-22)

YEAR TOTAL IMPORTS TOTAL EXPORTS TOTAL TRADE

2018 USD 2.60 trillion USD 1.66 trillion USD 4.26 trillion

2019 USD 2.56 trillion USD 1.64 trillion USD 4.20 trillion

2020 USD 2.40 trillion USD 1.42 trillion USD 3.82 trillion

2021 USD 2.93 trillion USD 1.75 trillion USD 4.68 trillion

2022 USD 3.37 trillion USD 2.06 trillion USD 5.43 trillion

Overall, in 5 years, the US Trade Data has increased by almost 27.46%.

HOW TO GET THE BEST US TRADE DATA?

The US Trade Data report is available with multiple agencies that are running online. The best alternative of all is to get in touch with TradeImeX as you would be able to analyze things better and in a very easy way. We are a specialist when it comes to getting any trade information about the United States. Our dedicated team always keeps on updating the trade data as per the latest changes and updates so that our customers always get the best and most updated form of US Trade Data that too with 100% accuracy and authenticity.

Get in touch with us today through our website or Email ID: [email protected] and learn more about the American market structure and ongoing trends and understand the demand of the local citizens more clearly.

WHY ARE CUSTOMS DATA NECESSARY?

The question itself contains the solution. This means that in order to successfully operate an international business, every marketer or dealer must have access to Customs Data in order to monitor the trade operations taking place in the targeted country.

Every country in the globe has its own distinct laws and norms governing commerce, such as tax rates, customs taxes, trade policies, etc. This is a truth that is universally acknowledged. These elements determine whether the nation is a good exporter or an excellent importer. To further grasp the situation, let's use Indonesia as an example. According to Indonesia's Import Export Data report, the country imported products for US$237.44 billion while exporting items worth US$2.17 billion.

commodities worth USD 291.97 billion, making it both a successful importer and exporter.

Indonesia buys a lot of machinery, electronics, and cars, but it exports a lot of mineral fuels, pharmaceuticals, and precise tools. All of these causes have led to Indonesia conducting bilateral trade with practically every country on the planet.

The following information is included in a customs data report:

• The importer's (the recipient) and exporter's (the supplier) names.

• Information on each transaction's shipping.

• Every shipment is subject to customs duties.

• Plans, rates, and tariffs

• The product's HS code, which is being dispatched.

• Product information, including units, cost, weight, quantity, and currency type.

A successful transaction cannot be envisioned without a Customs Data report because it contains the most accurate information about the products.

and shipment information are solely gathered from this database. In fact, it is advised that before establishing any business, one should learn everything there is to know about that industry in terms of prospects, risks, profitability, and growth-related factors. Otherwise, the firm won't expand. As a result, you must read the customs data report and import export data before starting your import export operation.