5 US Major Exports That You Should Know About
The United States is one of the world’s largest exporters, selling a variety of goods and services to other countries. In 2021, the US exported $2.061 trillion worth of products, an increase of 17.6% from 2020. But what are the top US exports, and why are they important for the economy and trade? Here are five US major exports that you should know about.
1.Gasoline and Other Fuels
Gasoline and other fuels are the top US export category, accounting for 18.4% of the total value of US exports in 2021. The US is a major producer and exporter of refined petroleum products, such as gasoline, diesel, jet fuel, and heating oil. The US also exports crude oil, petroleum gas, and liquefied natural gas (LNG) to other countries. The main destinations for US fuel exports are Canada, Mexico, China, Japan, and Brazil.
2. Machinery and Computers
Machinery and computers are the second-largest US export category, representing 11.1% of the total value of US exports in 2021. The US is a global leader in manufacturing and exporting various types of machinery and equipment, such as industrial machines, engines, turbines, pumps, generators, tractors, computers, printers, scanners, and semiconductors. The main markets for US machinery and computer exports are Canada, Mexico, China, Germany, and the United Kingdom.
3. Electrical Machinery and Equipment
Electrical machinery and equipment are the third-largest US export category, accounting for 9.6% of the total value of US exports in 2021. The US is a major producer and exporter of electrical products, such as integrated circuits, transistors, diodes, LEDs, batteries, solar cells, electric motors, transformers, switches, wires, cables, and telecommunications equipment. The main destinations for US electrical machinery and equipment exports are Mexico, Canada, China, South Korea, and Singapore.
4. Vehicles
Vehicles are the fourth-largest US export category, representing 6.5% of the total value of US exports in 2021. The US is a major manufacturer and exporter of vehicles, such as cars, trucks, buses, motorcycles, bicycles, trailers, and parts. The main markets for US vehicle exports are Canada, Mexico, China, Germany, and Japan.
5. Aircraft and Spacecraft
Aircraft and spacecraft are the fifth-largest US export category, accounting for 5% of the total value of US exports in 2021. The US is a global leader in aerospace industry, producing and exporting civilian and military aircrafts (such as planes, helicopters), aircraft parts (such as engines), satellites (such as GPS), rockets (such as SpaceX), space vehicles (such as NASA), and related services (such as maintenance). The main destinations for US aircraft and spacecraft exports are China, Canada, France, United Kingdom, and Japan.
Why Are These Exports Important?
These five US major exports are important for several reasons. First, they contribute to the economic growth and job creation in the US, as they generate income and demand for domestic industries and workers. Second, they enhance the competitiveness and innovation of the US in the global market, as they showcase the quality and technology of American products and services. Third, they foster trade relations and cooperation with other countries, as they create mutual benefits and opportunities for both exporters and importers.
The US is one of the world’s largest exporters of goods and services, with a total value of $2.061 trillion in 2022. In this blog post, we will look at three of the major export industries of the US and how they have been affected by the global demand in recent years.
Gasoline and Other Fuels
Gasoline and other fuels are the top export product of the US, accounting for 18.4% of the total exports in 2021. The US exported $378.6 billion worth of mineral fuels, including refined petroleum, crude oil, and petroleum gases, to various countries around the world. The main destinations for US fuel exports were Canada, Mexico, China, Japan, and South Korea. The demand for US fuels increased significantly in 2021, as the global economy recovered from the COVID-19 pandemic and oil prices rose. The US fuel exports grew by 57.5% compared to 2020, when they were severely affected by the lockdowns and travel restrictions.
Civilian Aircraft Parts
Civilian aircraft parts are another major export industry of the US, representing 5% of the total exports in 2021. The US exported $102.8 billion worth of aircraft and spacecraft products, including parts, engines, helicopters, satellites, and rockets, to various countries around the world. The main destinations for US aircraft parts exports were China, France, Germany, United Kingdom, and Canada. The demand for US aircraft parts also increased in 2021, as the global air travel resumed after the COVID-19 pandemic and airlines ordered new planes and upgraded their fleets. The US aircraft parts exports grew by 14.9% compared to 2020, when they were severely affected by the grounding of Boeing 737 Max jets and the reduced air traffic.
Passenger Vehicles
Passenger vehicles are the third major export industry of the US, representing 6.5% of the total exports in 2021. The US exported $134.9 billion worth of vehicles, including cars, trucks, buses, motorcycles, and special purpose vehicles, to various countries around the world. The main destinations for US vehicle exports were Canada, Mexico, China, Germany, and United Kingdom. The demand for US vehicles decreased slightly in 2021, as the global automotive market faced challenges such as supply chain disruptions, semiconductor shortages, environmental regulations, and consumer preferences. The US vehicle exports declined by 0.8% compared to 2020, when they were moderately affected by the COVID-19 pandemic and the trade tensions.
References:
https://www.census.gov/foreign-trade/Press-Release/2020pr/ft900_2012.pdf
https://www.worldcat.org/issn/0099-9660
https://www.worldstopexports.com/united-states-top-10-exports/
https://www.shippingsolutions.com/blog/top-us-exports
https://oec.world/en/profile/country/usa/
https://en.wikipedia.org/wiki/List_of_exports_of_the_United_States
https://en.wikipedia.org/wiki/List_of_exports_of_the_United_States
https://en.wikipedia.org/wiki/ISSN_(identifier)
https://www.shippingsolutions.com/blog/top-us-exports
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