USA Import Data — A Simple USA Import Trade Statistics Reportby Seair Exim Solution Import Export Data
The United States of America is a large country surrounded by the Pacific Ocean, the Atlantic Ocean and the Gulf of Mexico. The USA has a developed economy and has the largest economy in terms of nominal GDP. The US currency is widely used for international transactions. The USA is one of the largest importers and exporters in the world. According to US Import Data, exports of goods and services was 12.22% of the GDP, and imports of goods and imports are 15.33% of the GDP.
US Import Data shows the largest trade partners are:-
- China ($636 billion)
- Canada ($582.4 billion)
- Mexico ($557 billion)
- Japan ($204 billion)
- Germany ($171.2 billion)
The US Importer Data revealed the trade deficit increased to $68.1 billion in November. The lowest trade deficit for 2020 was recorded in February with the deficit at $38.1 billion.
USA Import Data reveals that the US imported $252.3 billion in November 2020. The highest imports were from China $44.9 billion. The imports in the US have been rising for six consecutive months as demand continued to increase post-pandemic. Commodities that recorded an increase in imports are consumer goods ($4.0 billion), industrial supplies and materials ($1.5 billion), and capital goods ($1.2 billion). Vehicles, spare parts, and engines (1.0 billion) showed a drop in imports. The US recorded the lowest imports of 2020 in May.
According to the USA Import Data, the top imports in the USA were:-
- Machinery including computers
- Electric machinery
- Mineral fuel including oil
US Importer data shows the top importers in USA are:-
- Home Depot
- Ashley Furniture.
US import data allows traders to gain a deeper understanding of the complex US market. It helps to mitigate the risks. Businesses can use the information to gain insight into changing consumer trends. It helps them get a competitive edge. Traders can assess their risk to identify and analyze the trading patterns of potential buyers/sellers. They can use the database to contact buyers and partners.
Seair Exim Solutions is a market research and Import Export Data provider company in India. We provide export import data India, custom duty of India, HS code list, and global trade information of more than 80 countries in the globe.
Created on Jan 19th 2021 01:48. Viewed 193 times.