Us International Trade Statistics
Table of Contents Heading
- Tariffs By Product
- Data Visualization
- Services & Forms
- Top 10 Export Goods
- International Trade Statistics: Trends In Fourth Quarter 2019
- Importer Rank
- Investment In The United States
Get the latest data and reports produced by ITA’s team of trade specialists. Data series and reports for both public and government use. Open data refers to publicly available data structured in a way that enables data to be discoverable and usable by end users. The Administration has taken steps to make government-held data more accessible to the public for innovation and economic growth. On May 9, 2013, the President signed an executive order that made open and machine-readable data the new default for government information.
The average American enjoys the highest after-tax purchasing power in the world. International trade also influence the U.S. presidential election since voters’ exposure to trade influences who wins the US presidency, according to US Census data covering nearly all economic activity in the United States.
Tariffs By Product
In 1988, the United States ranked first in the world in the Economist Intelligence Unit “quality of life index” and third in the Economic Freedom of the World Index. Selected trade series for countries & areas recognized by the United Nations.
The Chinese value-added $10 component is worth $150 million – 4.5 percent of 15 million iPhones worth $3.3 billion. Trade Map is free to use and provides trade statistics and market access information for export development.
In addition to these federal sources, the Journal of Commerce’s Port Import Export Reporting Service provides data on U.S. international maritime activity, and has data on TEUs. Tables profiling U.S. exporting companies by product, market and location within the United States. World Trade Statistical Review 2020 looks into the latest developments in world trade, with a detailed analysis of the most recent trends for trade in goods and services. The USITC is responsible for publishing the Harmonized Tariff Schedule of the United States Annotated .
Data Visualization
Reports values of imports and exports of main commodities in U.S. dollars and national currencies. Data can be found electronically on Global Insight and Data-Planet Datasets (1948-Present) and Datastream International (1970-Present). Collects and organizes shipping manifests and customs records from government agencies and private companies to enable company and product level analysis for ocean freight shipments into U.S. ports.
Other US workers had flat earnings since the 2008 financial crisis. An ethic of hyper-competition has emerged, making it easy for government leaders to overlook the despair felt by bewildered millions and neglect safety nets and job training. Nevertheless, overall, most Americans are better off today than their parents in income, health, education and prospects. Retirees and others enjoy record levels of benefits and health care.
Services & Forms
The central bank reinvests that surplus in US assets, mainly Treasury securities. This helps prop up the US government budget, keeping the US dollar strong and pleasing US consumers with affordable goods and low interest rates for mortgages and credit cards, while maintaining Chinese jobs. The US government, spending more than it takes in from domestic tax revenue, has run a deficit for most of the last 35 years, but still funds expenditures like defense – an accumulated $19 trillion in debt. If the external debt represents foreign ownership of domestic assets, the result is that rental income, stock dividends, capital gains and other investment income is received by foreign investors, rather than by U.S. residents. On the other hand, when American debt is held by overseas investors, they receive interest and principal repayments. As the trade imbalance puts extra dollars in hands outside of the U.S., these dollars may be used to invest in new assets or be used to buy existing American assets such as stocks, real estate and bonds.
A wide variety of transportation related data elements are collected as part of the filing requirements for import and export transactions. This includes, for example, data elements such as value, commodity, weight, country of origin and destination, U.S. port or gateway, freight charges, etc. In the United States, multiple agencies and organizations are involved in the collection, processing and dissemination of international trade and transportation data. No one dataset provides all the information requirements needed by the transportation community. Some data are required by regulation and can be considered administrative data.
Top 10 Export Goods
Official U.S. international trade statistics may differ from similar data reported by other countries. For example, the U.S. government may report U.S. exports to Mexico for a specific amount. The Mexican government may report a different number for Mexican imports from the United States. In theory, these figures should be comparable, However, differences do occur at both the aggregate and detailed levels of trade . These differences occur due to the trade partner, different types of processing, quality assurance, editing and validation that each country may perform on its data once it is reported to the government. An example of one specific difference is with shipments of a “low-value”.
Apple pays its subcontractor in China, Foxconn, about $10 for product assembly, with parts shipped from multiple nations. Foxconn ships the assembled iPhone to the United States at an invoice value around $220 –$210 for imported parts, $10 for assembly. This is recorded as a US import from China although only $10 of trade value was added there. The iPhone’s $649 retail value minus $220 equaling Apple’s $429 gross margin appears nowhere in trade data.
International Trade Statistics: Trends In Fourth Quarter 2019
The data represents non-stop bi-directional air trade by U.S. and foreign carriers between the United States and other countries and as such differs from U.S. The airport data from the BTS OAI source also reflect actual U.S. airports, not U.S. For international air freight analysis, the OAI data provide more detailed geographic and route information, from a carrier perspective. This type of information is not included in the administrative trade statistics released by the Census Bureau. However, the OAI data do not have information on commodity nor value, and these two data elements are included in the administrative trade statistics.
FAS provides summaries of the latest USDA quarterly forecasts for U.S. trade in agricultural products and a link to the joint FAS/ERS publication Outlook for U.S. Insight and analysis from FAS’s overseas offices on issues affecting agricultural production and trade. A PDF reader is available from Adobe Systems Incorporated. Trade Policy & Analysis (TP&A) publishes a variety of data series and reports for both public and government use. Use the links below to navigate directly to data relating to a specific topic.
Importer Rank
United States has a high level of specialization in Sorghum (7.81), Military Weapons (6.84), Starch Residue (6.63), Forage Crops (6.06), and Oil Seed Flower (5.3). Specialization is measured using RCA, an index that takes the ratio between United States observed and expected exports in each product. Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country. The top services imported by United States in 2017 were Business travel ($123B), Miscellaneous business, professional, and technical services ($69B), Air transport ($60.8B), Reinsurance ($45.1B), and Sea transport ($37.1B).
Get the latest statistics on inbound travel to and outbound travel from the U.S. The U.S. is the third largest producer of oil in the world, as well as its largest importer. The partial and full lockdowns implemented globally including in Southern Africa to address COVID19, severely disrupted the movement of people and agricultural trade in 2020. An archive of past FAS reports is in the USDA Economics, Statistics and Market Information System. If you have any questions related to the outbound data, they can be sent to this e-mail address as well. Please authenticate by going to “My account” “Administration”. Then you will be able to mark statistics as favourites and use personal statistics alerts.
Others believe that trade deficits are good for the economy. The opportunity cost of a forgone tax base may outweigh perceived gains, especially where artificial currency pegs and manipulations are present to distort trade. Over the long run, nations with trade surpluses tend also to have a savings surplus. The U.S. generally has developed lower savings rates than its trading partners, which have tended to have trade surpluses.
With a mounting trade deficit, the income from these assets increasingly transfers overseas. The U.S. net international investment position became a negative $2.5 trillion at the end of 2006, or about minus 19% of GDP.
This statistic depicts the total value of U.S. international trade from 2000 to 2020. In 2020, the value of U.S. international exports amounted to about 2.13 trillion U.S. dollars; imports amounted to approximately 2.8 trillion U.S. dollars. Trade in goods and services between U.S. residents and residents of other countries each month. The difference between the exports and imports is the trade balance.
In addition, it documents shipping in and out of Pakistan, Philippines, Russia, Vietnam, and many nations in Latin America and Europe. The current scope of UN ServiceTrade is resident to non-resident trade in services and some related data series, broken down by EBOPS category and partner country on an annual basis. The Complexity-Relatedness diagram compares the risk and the strategic value of a country’s potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Information on U.S. export sales, by commodity and country of destination, updated weekly. In addition to OAI and PIERS, periodic surveys are collected in specific regional areas and for specific time periods. Such surveys may have a very limited time series, but can be used in conjunction with more detailed data sources. An example of this is the National Roadside Study , which was a component of the National Roadside Survey of Canada. This national survey was a carrier based intercept survey for trucks that was conducted in 1991, 1995, 1999 and . It was originally designed to capture information on commercial truck activity among Canadian provinces.
Chinese tea was another monopoly until the 1860s, when a Scotsman noticed that a plant in India resembled the Chinese bush. 7 The rest of the world, including China, partially finances the US trade deficit. Chinese firms turn them over to local banks in exchange for their own currency, and banks turn them over to their central bank.