The United States stands as a global trade powerhouse, second only to China, demonstrating its significant role in international commerce. In 2022, the total value of U.S. exports and imports of goods and services exceeded $7.0 trillion, highlighting the nation’s extensive engagement in worldwide trade networks. With trade relationships spanning over 200 countries, territories, and regional associations, understanding the United States’ biggest trade partners is crucial to grasping its economic influence and global connections.
Top Goods Trade Partners of the United States
As a leading exporter of goods, the United States plays a pivotal role in supplying global markets. In 2022, U.S. goods exports reached $2.1 trillion, marking a substantial 17.5 percent increase from the previous year. Canada emerged as the primary destination for American goods, absorbing 17.3 percent of total exports. The top five purchasers of U.S. goods in 2022 were:
- Canada ($356.5 billion)
- Mexico ($324.3 billion)
- China ($150.4 billion)
- Japan ($80.2 billion)
- United Kingdom ($76.2 billion)
Furthermore, exports to the European Union (EU) 27 nations collectively amounted to $350.8 billion, underscoring the robust transatlantic trade relationship.
Conversely, the United States holds the position of the world’s largest goods importer. In 2022, goods imports into the U.S. totaled $3.2 trillion, a 14.6 percent increase from 2021. China stood out as the foremost supplier of goods to the United States, accounting for 16.5 percent of the total import volume. The top five nations supplying 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, signifying a substantial flow of goods from Europe to the American market.
Top Services Trade Partners of the United States
Beyond goods, the United States is also the world’s largest exporter of services. U.S. services exports in 2022 reached $926.0 billion, a significant 16.4 percent rise compared to 2021, representing 30.7 percent of overall U.S. exports. Ireland was the largest importer of U.S. services, accounting for 9 percent. The top five 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)
Services exports to the European Union 27 totaled $238.6 billion, demonstrating the strong services trade ties with Europe.
On the imports side for services, the United States also leads globally. In 2022, U.S. services imports totaled $680.3 billion, a substantial 23.7 percent increase from 2021, making up 17.2 percent of all U.S. imports. The United Kingdom was the top provider of services to the U.S., accounting for 10.4 percent of total services imports. The top five suppliers of U.S. services imports 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 were $166.7 billion, indicating a significant volume of service-based trade from the EU to the United States.
Conclusion
In conclusion, the United States maintains complex and substantial trade relationships across the globe. Canada and Mexico stand out as key partners for goods trade, while the United Kingdom plays a significant role in services trade. China’s prominence as both a supplier of goods and a purchaser of U.S. exports underscores its importance in the global trade landscape for the United States. These partnerships are vital to the U.S. economy and reflect the interconnected nature of global commerce in the 21st century.
