That dollar amount reflects a 23.8% increase from $1.666 trillion in 2018, and a 17.6% year-over-year gain compared to $1.754 trillion for 2021.
To give some statistical perspective, America’s exports represent 9.3% of the overall value of all goods exported around the globe one year earlier in 2021.
Applying a continental lens, 33% of exports from the United States by value was delivered to its fellow North American trade partners Canada and Mexico. A smaller 30% was sold to Asian importers with another 23% worth of goods going to Europe and 10.8% to Latin America excluding Mexico but including the Caribbean.
Smaller percentages went to Oceania (1.7%) led by Australia and New Zealand, and Africa (1.5%).
United States of America’s Top Trading Partners
Below is a list showcasing 25 of America’s top trading partners in terms of generating US export sales; that is, countries that imported the most American shipments by dollar value during 2022. Also shown is each import country’s percentage of total American exports.
- Canada: US$355 billion (17.2% of total US exports)
- Mexico: $324.4 billion (15.7%)
- China: $153.8 billion (7.5%)
- Japan: $80.3 billion (3.9%)
- United Kingdom: $77.3 billion (3.7%)
- Germany: $72.9 billion (3.5%)
- Netherlands: $72.9 billion (3.5%)
- South Korea: $71.5 billion (3.5%)
- Brazil: $53.6 billion (2.6%)
- India: $47.3 billion (2.3%)
- France: $46.9 billion (2.3%)
- Singapore: $46.2 billion (2.2%)
- Taiwan: $43.7 billion (2.1%)
- Switzerland: $37 billion (1.8%)
- Belgium: $35.5 billion (1.7%)
- Australia: $30.2 billion (1.5%)
- Italy: $27.4 billion (1.3%)
- Spain: $26.5 billion (1.3%)
- Hong Kong: $25.9 billion (1.3%)
- Chile: $23.3 billion (1.1%)
- United Arab Emirates: $20.9 billion (1%)
- Colombia: $20.6 billion (1%)
- Malaysia: $18.1 billion (0.9%)
- Ireland: $16 billion (0.8%)
- Thailand: $15.6 billion (0.8%)
Over four-fifths (81.1%) of American exports in 2022 were delivered to the above 25 trade partners.
The greatest percentage increase in purchases of US exported goods among these top trading partners belong to Spain (up 62.1% from 2021), Switzerland (up 56.1%), France (up 53.4%), Netherlands (up 37.3%), Chile (up 34.6%) and Singapore (up 30.9%).
The smallest gain is attributable mainland China via a 1.6% gain compared to 2021.
The sole decline among the top 25 customers for American exports was Hong Kong, dragged down by a -13.5% drop.
Countries Causing Biggest US Trade Deficits
Overall, the United States of America incurred a -$1.313 trillion trade deficit for 2022, expanding by 11.2% from the -$1.181 trillion in red ink generated from America’s international trade one year earlier in 2021.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have incurred a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
United States incurred the highest trade deficits with the following countries.
- China: -US$421.9 billion (country-specific trade deficit in 2022)
- Mexico: -$134.8 billion
- Vietnam: -$124.5 billion
- Canada: -$93.3 billion
- Germany: -$77.5 billion
- Japan: -$74.1 billion
- Ireland: -$66.5 billion
- Taiwan: -$52.4 billion
- South Korea: -$49.4 billion
- Thailand: -$47.4 billion
Among America’s trading partners that cause the greatest negative trade balances, US deficits with Canada (up 59%), South Korea (up 50.5%) and Vietnam (up 28.1%) grew at the fastest pace from 2021 to 2022.
These cashflow deficiencies clearly indicate America’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.
Countries Generating Greatest US Trade Surpluses
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.
- Netherlands: US$37.3 billion (country-specific trade surplus in 2022)
- Hong Kong: $20.9 billion
- Singapore: $144 billion
- Australia: $13.6 billion
- United Arab Emirates: $13.5 billion
- Brazil: $12.2 billion
- United Kingdom: $11.9 billion
- Panama: $11.5 billion
- Belgium: $8.1 billion
- Dominican Republic: $6.7 billion
Among America’s trading partners that generate the greatest positive trade balances, US surpluses with the United Kingdom (up 202%), Singapore (up 161.2%) and the Netherlands (up 118.2%) grew at the fastest pace from 2021 to 2022.
US trade surpluses shrank by double-digits with Belgium (down -33.8% year over year), Hong Kong (down -18.5%) and Brazil (down -13.5%).
These positive cashflow streams clearly indicate America’s competitive advantages with the above countries, and also represent key opportunities for United States to develop country-specific strategies to optimize its overall position in international trade.
Exports Companies Servicing American Trading Partners
According to JOC.com, the following were the top US companies that shipped products from United States to its importing partners around the globe. Shown within parenthesis is the product category that the American business specializes in.
- DeLong (animal feed, grain)
- Denison International (recyclable paper)
- DuPont (diversified chemicals)
- International Paper (paper, packaging)
- Koch Industries (recovered wastepaper, plastic scrap, animal feeds)
- MeadWestvaco/RockTenn (paper, packaging)
- Newport CH International (recycled paper, metals, plastics)
- Potential Industries (paper for recycling)
- Sims Metal Management (recycled metals, electronics)
See also United States Top 10 Imports, United States Top 10 Exports, Top United States Trade Balances, America’s Top 20 Export States and United States Top 100 Consumer Product Exports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 24, 2023
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 24, 2023
International Trade Centre, Trade Map. Accessed on March 24, 2023
Investopedia, Net Exports Definition. Accessed on March 24, 2023
JOC.com, Top 100 US Exporters. Accessed on March 24, 2023
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 24, 2023
Wikipedia, List of Companies of United States. Accessed on March 24, 2023
