Who are the US’s top trade partners?

Combining imports and exports, the United States’s top trade partner in 2023 was Mexico, with nearly $798 billion in goods and services exchanged between them.

Following Mexico were Canada ($773 billion) and China ($575 billion).

These three nations have been the US’s top three every year since at least 2009, accounting for 42% of all US trade in 2023.

Who are the US’s top import partners?

Mexico, China, and Canada have historically been the top three, although not always in that order.

Before 2023, China had been the top importer to the US since at least 2009. In 2023, Mexico surpassed China, selling $475 billion of goods and services to its northerly neighbor. China dropped into the second spot with $427 billion , followed by Canada with $419 billion.

No other country exported half as much to the US as those three — the next-highest value trade partners were Germany ($159 billion), Japan ($147 billion), South Korea ($116 billion), and Vietnam ($114 billion).

The most imported items by the US, measured by the value of all imports in the category, are motor vehicles, medicines and pharmaceuticals, oil and gas, motor vehicle parts, and communications equipment.

Who are the US’s top export partners?

Mexico, Canada, and China top the list again.

Mexico and Canada, the two countries that share a land border with the US, are the nation’s top two export partners. Each took in over $300 billion in US exports in 2023, while no other nation reached half that — China was third with $148 billion.

Among other non-border countries, the US exported the most goods and services to the Netherlands ($81 billion, nearly 30% of which came in the form of oil and gas), Germany ($77 billion), Japan ($76 billion), and the United Kingdom ($74 billion).

The US’s top exports are oil and gas, aerospace products and parts, petroleum and coal products, medicines and pharmaceuticals, and motor vehicles.

How balanced is US trade?

The US typically imports more than it exports. In 2023, the US imported $1 trillion more in goods than it exported, marking the sixth straight year of a trade deficit in the trillions (adjusting for inflation).

In two-thirds of its trade relationships with at least $10 billion in two-way trade, the US imported more than it exported — a trade deficit.

The highest trade deficits were with China ($279 billion), Mexico ($152 billion), and Vietnam ($105 billion).

Of course, that means that with one-third of trade partners, the US exported more than it imported, creating a trade surplus. The US had its largest surpluses with the Netherlands ($43 billion), Hong Kong ($24 billion), the United Arab Emirates ($18 billion), and Australia ($18 billion).