The United States stands as a global trade powerhouse, second only to China, engaging in a massive exchange of goods and services that surpassed $7.0 trillion in 2022. This extensive trade network connects the U.S. with over 200 countries, territories, and regional groups worldwide, highlighting its pivotal role in international commerce. Understanding who the largest trading partners are provides valuable insights into the dynamics of the global economy and the strategic alliances that shape international trade.
Top US Goods Trading Partners
The United States is a leading force in global goods trade, holding the position of the second-largest goods exporter globally, just behind China. In 2022, U.S. goods exports reached a staggering $2.1 trillion, marking a significant 17.5 percent increase, or $307.3 billion, from the previous year. Canada emerged as the primary destination for U.S. goods, absorbing 17.3 percent of total exports.
Goods Exports
Breaking down the top purchasers of U.S. goods exports in 2022 reveals a clear picture of key trade relationships:
- Canada: $356.5 billion
- Mexico: $324.3 billion
- China: $150.4 billion
- Japan: $80.2 billion
- United Kingdom: $76.2 billion
Notably, U.S. goods exports to the European Union 27 countries collectively amounted to $350.8 billion, demonstrating the strong transatlantic trade ties.
Goods Imports
On the import side, the United States reigns as the world’s largest goods importer. In 2022, U.S. goods imports totaled an impressive $3.2 trillion, a 14.6 percent surge, or $413.7 billion, compared to 2021. China stood out as the dominant supplier of goods to the U.S., accounting for 16.5 percent of all goods imports.
The top suppliers of goods to the U.S. in 2022 were:
- China: $536.3 billion
- Mexico: $454.8 billion
- Canada: $436.6 billion
- Japan: $148.1 billion
- Germany: $146.6 billion
Goods imports from the European Union 27 reached $553.3 billion, underscoring the EU’s significant role as a trade partner for the United States.
Top US Services Trading Partners
Beyond goods, the United States also leads as the largest services exporter worldwide. In 2022, U.S. services exports totaled $926.0 billion, a robust 16.4 percent increase, or $130.7 billion, from 2021. Services exports constituted 30.7 percent of overall U.S. exports in 2022. Ireland was the largest buyer of U.S. services exports, representing 9 percent of the total.
Services Exports
The leading purchasers of U.S. services exports in 2022 included:
- Ireland: $83.1 billion
- United Kingdom: $80.9 billion
- Canada: $69.5 billion
- Switzerland: $52.4 billion
- China: $42.2 billion
U.S. services exports to the European Union 27 totaled $238.6 billion, further illustrating the importance of the EU in the services sector.
Services Imports
Similarly, the United States is the largest services importer globally. U.S. services imports in 2022 reached $680.3 billion, a substantial 23.7 percent increase, or $130.3 billion, from 2021. Services imports made up 17.2 percent of total U.S. imports in 2022. The United Kingdom was the top provider of services, accounting for 10.4 percent of all U.S. service imports.
The top suppliers of services to the U.S. in 2022 were:
- United Kingdom: $70.8 billion
- Germany: $42.0 billion
- Canada: $40.6 billion
- Japan: $38.5 billion
- Mexico: $37.3 billion
Services imports from the European Union 27 amounted to $166.7 billion, highlighting the EU’s continued significance in the U.S. services trade landscape.
In conclusion, the largest trading partners of the US are diverse and span across goods and services. Canada and Mexico consistently appear as top partners for both exports and imports of goods, while the United Kingdom and Ireland play significant roles in services trade. China remains a crucial partner, particularly for goods imports, and the European Union collectively represents a major trading bloc for the United States across both goods and services sectors. These relationships underscore the complex and interconnected nature of the U.S. within the global trade ecosystem.
