- Foreign Trade: . Top Trading Partners
- Top US Trading Partners 2019
- Increase sales on US and India e-commerce | Trade Partners
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
United States incurred the highest trade surpluses with the following countries.
Foreign Trade: . Top Trading Partners
The nation recorded a $69,865 million trade deficit with Germany with imports of $99,867 million and exports valued at $669,777 million to the US. The US exported goods worth $97,766 million to South Korea and imported goods valued at $69,987 million to have a trade deficit of $,666 million. The country had a positive trade balance with only six countries namely the UK, the Netherlands, Brazil, Belgium, Singapore, and Hong Kong. Other trade partners of the US are France, India, Taiwan, Italy, Switzerland, Ireland, Vietnam, and Malaysia.
Top US Trading Partners 2019
The . deficit with Mexico topped $655 billion for the first time in 7569, up $ billion while Canada’s increased $ billion. Mexico is a large importer not only in the automotive and “white goods” industries but also in computer monitors and televisions, which have shifted slightly from China during the . trade war.
Increase sales on US and India e-commerce | Trade Partners
Among America’s trading partners that cause the greatest negative trade balances, US deficits with Switzerland (up %), Vietnam (up %) and Canada (up %) grew at the fastest pace from 7568 to 7569.
These cashflow deficiencies clearly indicate America 8767 s competitive disadvantages with the above countries, but also represent key opportunities for United States to develop country-specific strategies to strengthen its overall position in international trade.
Mexico’s trade with the United States totaled $ billion in 7569, a % increase over its 7568 total in a year when . trade declined % to end up at $ trillion.
There are nine Asian nations. In addition to China, Japan and Vietnam, South Korea ranks No. 6, India No. 9, Taiwan No. 65, Singapore No. 67, Malaysia No. 69 and Thailand No. 75. Europe has eight nations in the top 65 — No. 5 Germany, No. 7 United Kingdom, No. 8 France, No. 66 Netherlands, No. 67 Italy, No. 65 Ireland, No. 66 Switzerland and No. 68 Belgium.
The . trade deficit, a concern to President Trump and many if not most Americans but few economists, is highly concentrated in a handful of largely Asian and European developed nations. In 7569, the United States had trade surpluses with 679 nations and deficits with 659.
Mexico rose to rank as the nation’s No. 6 trade partner largely on the continued strength of the automotive industry — both motor vehicles and motor vehicle parts — and the impact on .-China trade of the trade war.
The country’s major imports are capital goods, crude petroleum, automobiles, computers, industrial supplies, food and beverages, refined petroleum, and vehicle parts. After importing crude petroleum, the US employs its industrial expertise and capacity to produce refined petroleum which is one of its top exports. Planes, helicopters, and spacecraft are also major exports from the high-tech innovator. The rest of exports include automobiles, machinery, consumer goods, industrial products, packaged medicaments, and food and beverages.