The United States Trade Partners In 2023

By Indu Tyagi Ketan , 17 August, 2023

Mexico ranks top as the trading partner for the United States at the beginning of 2023, according to the most recent data published by the U.S. Census Bureau. Mexico's total trade with the United States increased by 12 percent year-over-year to USD 64 billion compared to the same period in 2022. Canada ranks second, and China ranks third with their trade with the United States, with USD 62 billion and 51.3 billion, respectively, in 2023

With most of the exports for the United States going to Mexico, Canada, China, Japan, and the United Kingdom, the country exported to a record of 39 countries in 2022, as per USA Facts. The U.S. imported USD 4 trillion in goods and services and exported USD 3 trillion in 2022, and the biggest trading partners were Mexico, Canada, and China. The import of USD 4 trillion marks the highest amount on record for the U.S., where USD 3.3 trillion of importance comes from goods. According to the data from USA Facts, the country has imported from every nation, including sanctioned countries like Russia, Afghanistan, and North Korea.   

In January 2023, top U.S. exports to Mexico were gasoline and other fuels for USD 3 billion; computer chips for USD1.6 billion; motor vehicle parts for USD1.6 billion; liquified natural gas for USD 1 billion and low-value shipments for USD 788 million, as per the census data analyzed by World city. The imports from Mexico were commercial vehicles for USD 3 billion, motor vehicle parts for USD 2.7 billion, passenger vehicles for USD 2.9 billion, computer and oil for USD 2.3 billion, and USD 1.6 billion, respectively. As per the U.S. Census Bureau data, the most common imported goods to the U.S. in 2022 were crude oil, cars, semiconductors, and pharmaceutical preparations. The most popular imported services were insurance, travel, transportation, and intellectual property use.

US-TRADE-PARTNERS

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Indu Tyagi Ketan

Chief Strategy Officer