Importing from USA

USA Import Guide | Trade Finance Global

Importing from USA

Listed as the second largest export economy in the world the United States is the eleventh most complex economy according to the Economic Complexity Index (ECI). On average in recent years the country has carried an annual negative trade balance of over $700 billion based on exports of $1.4 trillion and imports of more than $2.1 trillion annually. With a GDP per capita rate of more than $50,000 the average GDP rate is more than $16.5 trillion. With 20 international trading nations representing more than 75% of exports and 80% of imports – excluding services and foreign direct investment – the United States can be described as having a heavy concentration of trade activity with its favoured trading partners.

United States Country Profile

United States Country ProfileUnited States of America United States of America
Capital Washington, DC
Population 323,995,528
Currency US Dollar
GDP $18,560 billion
Languages English
Telephone Dial In 1

United States Exports Profile

Exports ($m USD)

1,545,609

Number of Export Products

4,523

Number of Export Partners

224

Top 5 export partners

Country

Trade

% Partner Share

Canada

282,243

18.26%

Mexico

243,314

15.74%

China

129,894

8.40%

Japan

67,602

4.37%

United Kingdom

56,244

3.64%

Top 5 Export Products at HS 6 digit level

Export Product

Number

Petroleum oils, etc, (excl. crude); preparation

5.0%

Monolithic integrated circuits, digital

3.5%

Transmission apparatus, for radioteleph incorpo

2.9%

Parts and accessories of automatic data process

2.5%

Petroleum oils and oils obtained from bituminou

2.2%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for USA

Agriculture

%

Product List

1.1%

Wheat, corn, other grains, fruits, vegetables, cotton; beef, pork, poultry, dairy products; fish; forest products

Industry

%

Industry List

19.4%

Petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining

Services

%

Service List

79.5%

Importing from United States: What is trade finance?

In general, the United States has reduced its trade barriers and coordinates with others in the global economic system. Historically, the U.S. has taken the view that trade promotes economic growth, social stability, democracy and better international relations. However, President Donald Trump has called these principles into question: in early 2018 Trump declared that the U.S. will impose steep tariffs on steel and aluminum imports, causing escalating tensions with China and other trading partners and raising the prospect of higher prices for American consumers and companies. At the same time, further negotiations regarding a revision of the NAFTA agreement are being pursued. The U.S. is the world’s largest importer and second largest exporter of goods, as well as the largest importer and exporter of commercial services. Nevertheless, trade represents only around 27% of the country’s GDP.

Information

Importing from USA? Contact our local experts

United States Economic Statistics

Government Website

https://www.usa.gov/

Sovereign Ratings

https://countryeconomy .com/ratings/usa

Central Bank

Board of Governors of the Federal Reserve

Currency USD Exchange Rate

Unemployment Rate

4.7%

Population below poverty line

15.1%

Inflation Rate

1.3%

Prime Lending Rate

3.5%

GDP

$18,560 billion

GDP Pro Capita (PPP)

$57,300

Currency Name

US Dollar

Currency Code

USD

World Bank Classification

High Income

Competitive Industrial Performance

3/138

Corruption Perceptions Index

16/180

Ease of Doing Business

8/190

Enabling Trade Index

22/136

Currency in USA

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