Quick Answer: What Is The Largest Imports Into The United States?

Does China rely on the US?

The U.S.

and China have been major trading partners for years, and they rely on each other’s supply chain for input into goods and services consumed within their borders..

How much does the US import a year?

While the U.S. runs a sizable trade surplus in services (more than $230 billion last year), it’s dwarfed by the $771 billion trade deficit in goods: U.S. goods exports amounted to more than $1.6 trillion last year, but the country imported nearly $2.4 trillion worth of goods.

Why does US import so much?

Why America Imports So Much Although America CAN produce all it needs, China, Mexico, and other emerging market countries can produce it for less. Their cost of living is lower, which allows them to pay their workers less. That makes them better at producing what U.S. consumers want than American companies could.

Who is America’s biggest trading partner?

U.S. trade with other nations is worth $4.9 trillion per year. China, Canada and Mexico are the country’s largest trading partners, accounting for nearly $1.9 trillion worth of imports and exports.

What are the top 3 imports of the China?

Searchable List of China’s Most Valuable Import ProductsRankChina’s Import Product2018 Value (US$)1Integrated circuits/microassemblies$312.7 billion2Crude oil$239.2 billion3Iron ores, concentrates$75 billion4Petroleum gases$50 billion93 more rows•May 5, 2020

What is China’s main export to the US?

Searchable List of China’s Most Valuable Export ProductsRankChina’s Export Product2019 Value (US$)1Phone system devices including smartphones$224,069,819,0002Computers, optical readers$148,463,426,0003Integrated circuits/microassemblies$102,187,884,0004Processed petroleum oils$38,345,208,0006 more rows•Dec 13, 2020

Who is China’s biggest trading partner?

List of largest trading partners of ChinaNo.Country / RegionTotal tradeTotal4,107.11United States583.32European Union573.083Japan303.017 more rows

What food does the US get from China?

The top U.S. import commodities from China are fruits and vegetables (fresh/processed), snack food, spices, and tea – the combined which accounts for nearly one-half of the total U.S. agricultural imports from China.

What imports does the US get from China?

Its top three import product categories are the same for the U.S. overall: Machinery & Electrical, followed by Miscellaneous, then Textiles. From January to June 2020, these three categories made up a combined 50% of China’s exports to the U.S. and roughly 41% of overall U.S. imports.

What are the top 3 imports of the United States?

What Are the Major U.S. Imports?Minerals, fuels, and oil – $241.4 billion.Pharmaceuticals – $116.3 billion.Medical equipment and supplies – $93.4 billion.Furniture, Lighting, and Signs – $72.1 billion.Plastics – $61.9 billion.Gems and precious metals – $60.8 billion.Organic chemicals – $54.6 billion.More items…•

Why does the US import so much from China?

The U.S. depends heavily on China for providing the low-cost goods that enable income-constrained American consumers to make ends meet. The U.S. also depends on China to support its own exports; next to Mexico and Canada, China is America’s third largest and by far its most rapidly growing major export market.

What percentage of goods are imported to the US?

United States Service Trade data from WDI 2018 United States, Imports of goods and services as percentage of GDP is 15.33 %. United States, Exports of goods and services as percentage of GDP is 12.22 %.

What food does the US import?

United States agriculture imports total $127.6 billion with coffee and cocoa, fresh and processed vegetables, and grains and feeds accounting for the majority.

How much does the US depend on China?

US exports to China directly and indirectly supported 1.8 million new jobs and $165 billion in GDP in 2015. When the economic benefits generated from US investment in China and Chinese investment in the US are combined, the total amounts to 2.6 million US jobs and about $216 billion of GDP.

What services does the US import?

In 2019, about 23.9 percent of all services imported were travel services….Breakdown of U.S. imports of commercial services in 2019, by principal services item.Percentage of total exports of servicesTransportation19%Travel23.9%Other commercial services55.7%Goods-related services1.4%4 days ago

What country does us import the most from?

Year-to-Date ImportsRankCountryPercent of Total Imports—Total, All Countries100.0%—Total, Top 15 Countries79.6%1China18.6%2Mexico13.9%13 more rows

What percent of US products are made in China?

Over $560 billion worth of goods came into the US from China in 2018, making up more than 21% of the value of all goods the US imported.

What is the US’s biggest export?

These are the top US exportsAuto parts, engines and car tires: $86 billion. … Industrial machines: $57 billion.Passenger cars: $53 billion. … Pharmaceuticals: $51 billion.Top U.S. service exports.Travel and transportation: $236 billion.Finance and insurance: $76 billion.Sales from intellectual property: $49 billion.More items…•