In 2019, China was the country with the highest trade surplus with approximately 421.9 billion U.S. dollars. Typically a trade surplus indicates a sign of economic success and a trade deficit indicates an economic weakness.
Which country does the US have the largest trade surplus with?
Year-to-Date Total Trade
| Rank | Country | Imports |
|---|---|---|
| — | Total, All Countries | 204.8 |
| — | Total, Top 15 Countries | 162.7 |
| 1 | China | 39.1 |
| 2 | Mexico | 29.0 |
Which countries does the US have a trade surplus with?
These are the biggest U.S. trade partners
- China – $636 billion.
- Canada – $582.4 billion.
- Mexico – $557 billion.
- Japan – $204.2 billion.
- Germany – $171.2 billion.
- South Korea – $119.4 billion.
- United Kingdom – $109.4 billion.
- France – $82.5 billion.
7 мар. 2018 г.
Who is the largest trading partner with the United States?
China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports.
What country does the US maintain its highest trade deficit with?
By far the largest bilateral trade imbalance is with China. The United States ran a $419 billion goods deficit with China in 2018. The next largest contributor to the goods deficit, at $151 billion, is the European Union, followed by Mexico at $81.5 billion, Japan at $67.6 billion, and Malaysia at $26.5 billion.
Who is China’s biggest trade partner?
List of largest trading partners of China
| No. | Country / Region | Exports |
|---|---|---|
| Total | 2,263.3 | |
| 1 | United States | 429.7 |
| 2 | European Union | 375.1 |
| 3 | Japan | 137.2 |
What is US biggest export?
Services are the biggest US export, with total foreign sales of $778 billion last year. … These are the service industries that bring in the most money: Travel and transportation: $236 billion.
What does US import the most?
What Are the Major U.S. Imports?
- Machinery (including computers and hardware) – $386.4 billion.
- Electrical machinery – $367.1 billion.
- Vehicles and automobiles – $306.7 billion.
- Minerals, fuels, and oil – $241.4 billion.
- Pharmaceuticals – $116.3 billion.
- Medical equipment and supplies – $93.4 billion.
17 дек. 2019 г.
Does the US have the largest trade deficit in history?
The current record trade deficit was set in 2018, at $878.68 billion. That was, in fact, a record year for trade, the first above $4 trillion. But U.S. trade, while remaining above $4 trillion in 2019, fell — and the deficit fell to $853.23 billion.
What country has the largest deficit?
“OECD: U.S. Has the Highest Deficit.” Accessed Dec. 29, 2020.
What is China’s main export to the US?
The top goods exported from China to the U.S. and their total values for 2018 were electrical machinery ($152 billion), machinery ($117 billion), furniture and bedding ($35 billion), toys and sports equipment ($27 billion), and plastics ($19 billion).
Who is Russia’s largest trading partner?
In 2020, Russia’s main trade partner was China, as the volume of export and import trade between the two countries reached nearly 104 billion U.S. dollars. China was the country’s both leading import origin and export destination.
Why is US trade deficit so high?
The large U.S. trade deficit is fundamentally driven by larger economic factors — like the fact Americans spend more than they save and have to borrow from abroad to finance the difference, Lovely said. Trump’s $1.5 trillion tax cut in 2017 contributed to that problem by running up the U.S. budget deficit.
What 5 Nations does the US have the biggest trade deficit with?
Top Five Trade Partners
The two largest are China and Japan. Some of the largest deficits are with countries in the third category. They are Canada, Mexico, and Germany.
Is the US trade deficit growing or shrinking?
The trade deficit dropped 1.7% to $616.8 billion last year, declining for the first time since 2013. That represented 2.9% of GDP, down from 3.0% in 2018. Goods imports plunged 1.7% last year, also the first decrease in three years.
Who does the US export the most to?
Canada was the largest purchaser of U.S. goods exports in 2019, accounting for 17.8 percent of total U.S. goods exports. The top five purchasers of U.S. goods exports in 2019 were: Canada ($292.6 billion), Mexico ($256.6 billion), China ($106.4 billion), Japan ($74.4 billion), and the United Kingdom ($69.1 billion).