USA-China Key Product Trade Stats 2017

China-USA Trade Conceptual (pixabay.com)

China-USA Trade Conceptual

The United States of America incurred a total -US$395.8 billion deficit exchanging exported and imported goods with the People’s Republic of China during 2017. That dollar amount reflects a 17.3% expansion from America’s -$337.4 billion negative trade balance with China five years earlier in 2013.

To give some context to the magnitude of China’s product surplus earned at the USA’s expense, the -$395.8 billion American deficit with China is almost half (45.9%) of America’s overall -$862.7 billion trade deficit during 2017 when all countries are factored in.

Key USA Product Trade Balances with China

US Deficits

The following 25 products generated the greatest deficits for America in its trade with China in 2017, generating a -$277.7 billion negative subtotal for the US.

  1. Phone system devices including smartphones: -US$70.9 billion (up 36.1% since 2013)
  2. Computers, optical readers: -$49.9 billion (down -7%)
  3. Computer parts, accessories: -$14.9 billion (up 72.7%)
  4. Models, puzzles, miscellaneous toys: -$12.8 billion (up 28.1%)
  5. Miscellaneous furniture: -$12.3 billion (up 38.4%)
  6. TV receivers/monitors/projectors: -$11.6 billion (up 11%)
  7. Seats (excluding barber/dentist chairs): -$11.2 billion (up 26.5%)
  8. Automobile parts/accessories: -$7.7 billion (up 27.9%)
  9. Lamps, lighting, illuminated signs: -$7.6 billion (up 23.6%)
  10. Cases, handbags, wallets: -$6.6 billion (down -14.8%)
  11. TV receiver/transmit/digital cameras: -$5.9 billion (up 48.7%)
  12. Printing machinery: -$5.9 billion (down -31.8%)
  13. Table games, bowling equipment: -$5.9 billion (up 8.4%)
  14. Electrical converters/power units: -$5.5 billion (up 11%)
  15. Electric water heaters, hair dryers: -$5.5 billion (up 3%)
  16. Footwear (leather): -$5.1 billion (down -32.7%)
  17. Jerseys, pullovers (knit or crochet): -$4.8 billion (down -22.7%)
  18. Footwear (textile): -$4.6 billion (up 37.3%)
  19. Miscellaneous plastic items: -$4.5 billion (up 8.9%)
  20. Unrecorded sound media: -$4.5 billion (up 240.5%)
  21. Sports equipment: -$4.2 billion (up 4.2%)
  22. Plastic tableware, kitchenware, toiletry: -$4.1 billion (up 12.3%)
  23. Insulated wire/cable: -$4.1 billion (up 19%)
  24. Footwear (rubber or plastic): -$4 billion (down -30.1%)
  25. Women’s clothing (not knit or crochet): -$3.9 billion (down -21%)

The fastest-growing American trade deficit resulting from exchanging products with China was for unrecorded sound media up 240.5% from 2013 to 2017.

In second place for America’s widening red ink was computer parts and accessories via a 72.7% expansion, trailed by television receivers, transmitters and digital cameras (up 48.7%), miscellaneous furniture (up 38.4%) then textile footwear (37.3%).

Leading the declines for US negative trade balances generated by China was leather footwear (down -32.7%), printing machinery (down -31.8%), rubber or plastic footwear (down -30.1%) then knitted or crocheted jerseys and pullovers (down -22.7%).

US Surpluses

The following 25 products generated the greatest surpluses for the US trading with China in 2017, accounting for a $51.4 billion positive subtotal for America.

  1. Soya beans: US$12.3 billion (down -6.6% since 2013)
  2. Cars: $8.8 billion (up 3.7%)
  3. Crude oil: $4.4 billion (reversing a -$26.8 million deficit in 2013)
  4. Integrated circuits/microassemblies: $2.5 billion (up 35.5%)
  5. Petroleum gases: $2.4 billion (up 1,551%)
  6. Machinery for making semi-conductors: $1.8 billion (up 158.9%)
  7. Copper waste, scrap: $1.7 billion (down -38.7%)
  8. Paper/paperboard waste, scrap: $1.7 billion (down -14.4%)
  9. Sawn wood: $1.6 billion (up 63.4%)
  10. Rough wood: $1.4 billion (up 21.2%)
  11. Chemical woodpulp (non-dissolving): $1.3 billion (up 28.3%)
  12. Aluminum waste, scrap: $1.2 billion (down -47.8%)
  13. Cotton (uncarded, uncombed): $971.3 million (down -55.5%)
  14. Physical/chemical analysis tools: $893.5 million (up 37.2%)
  15. Medication mixes in dosage: $887.9 million (up 56.8%)
  16. Bovine/equine rawhides, skins: $878.4 million (down -39.3%)
  17. Sorghum grain: $836.8 million (up 763.3%)
  18. Blood fractions (including antisera): $836.5 million (up 131.5%)
  19. Iron or steel scrap: $803.1 million (down -31.4%)
  20. Ethylene polymers: $800.1 million (up 63.6%)
  21. Electro-medical equipment (e.g. xrays): $785.9 million (up 218.9%)
  22. Whole fish (frozen): $668.6 million (up 2.8%)
  23. Polyacetal/ether/carbonates: $665.4 million (up 2.8%)
  24. Gold (unwrought): $610.8 million (up 6.5%)
  25. Cyclic hydrocarbons: $593.7 million (down -21.9%)

The most dramatic improvement for America in its trade with China was the $4.4 billion surplus for crude oil, reversing -$26.8 million in red ink exchanging unprocessed petroleum oil between the US and China five years earlier.

Generating the greatest percentage gains for US product surpluses versus China from 2013 to 2017 were petroleum gases (up 1,551%), sorghum grain (up 763.3%), electro-medical equipment like xrays (up 218.9%), machinery for making semi-conductors (up 158.9%) and blood fractions including antisera (up 131.5%).

Leading the shrinkage in US product-specific surpluses in the trade with China over the latest 5-year period were uncarded and uncombed cotton (down -55.5%), aluminum waste or scrap (down -47.8%), bovine or equine rawhides and skins (down -39.3%), copper waste or scrap (down -38.7%) then iron or steel scrap (down -31.4%).

The fastest-growing American trade deficit resulting from exchanging products with China was for unrecorded sound media up 240.5% from 2013 to 2017.

In second place for America’s widening red ink was computer parts and accessories via a 72.7% expansion, trailed by television receivers, transmitters and digital cameras (up 48.7%), miscellaneous furniture (up 38.4%) then textile footwear (37.3%).

Sources

Research Sources:
Trade Map, International Trade Centre. Accessed on April 13, 2018

Investopedia, Net Exports Definition. Accessed on April 13, 2018








See also Top United States Trade Balances, Top Chinese Trade Balances