Summary
- • The US exported $2.24 trillion worth of goods and services in 2021
- • Capital goods accounted for 34.1% of US exports in 2021
- • Services exports totaled $705.6 billion in 2021
- • The US was the world's second-largest exporter in 2021
- • Canada was the top destination for US exports in 2021, accounting for 17.5% of total exports
- • Agricultural exports were valued at $177 billion in 2021
- • The US exported 2.59 million barrels of petroleum per day in 2021
- • California was the top exporting state in 2021, with $175.1 billion in exports
- • The US trade surplus in services was $231.5 billion in 2021
- • Exports supported an estimated 10.7 million US jobs in 2020
- • The US exported $169.3 billion worth of civilian aircraft, engines, and parts in 2021
- • Mexico was the second-largest destination for US exports in 2021, accounting for 15.8% of total exports
- • The US exported $441.5 billion worth of goods to the European Union in 2021
- • Soybeans were the top agricultural export in 2021, valued at $27.4 billion
- • The US exported $208.6 billion worth of services to the European Union in 2021
Buckle up, world – the USA is on a wild ride to domination in the exports game! In 2021 alone, the US flexed its economic muscles by shipping out a whopping $2.24 trillion worth of goods and services. From Californias powerhouse exports to the top destination of Canada, where 17.5% of goods land, and even soybeans making a tasty appearance at $27.4 billion, these statistics paint a vivid picture of Americas global economic prowess. So grab your popcorn and lets dive into the numbers that make Uncle Sam the big daddy of exports!
Agricultural Exports
- Agricultural exports were valued at $177 billion in 2021
- Soybeans were the top agricultural export in 2021, valued at $27.4 billion
- Corn exports were valued at $18.7 billion in 2021
- Beef and veal exports were valued at $8.9 billion in 2021
- Cotton exports were valued at $8.8 billion in 2021
- Pork exports were valued at $7.7 billion in 2021
- Wheat exports were valued at $7.3 billion in 2021
Interpretation
In a cornucopia of exports that would make even the most discerning Thanksgiving dinner guest jealous, the agricultural industry in the USA raked in an impressive $177 billion in 2021. From soybeans leading the pack at $27.4 billion to beef and veal strutting their stuff at $8.9 billion, it's clear that American farmers are sowing seeds of success on the global stage. So next time you're enjoying a juicy steak or buttery corn on the cob, remember that behind every delicious bite lies a thriving export market that's anything but corny.
Economic Impact
- Exports supported an estimated 10.7 million US jobs in 2020
Interpretation
The latest statistics on USA exports are more than just numbers on a spreadsheet—they're a testament to the millions of hard-working Americans who rely on international trade for their livelihoods. In 2020, exports supported a whopping 10.7 million US jobs, proving once again that in the global economy, American workers aren't just clocking in from 9 to 5; they're playing a key role in driving the country's economic engine forward. So, next time you see a "Made in USA" label on a product, remember that it's not just a stamp—it's a badge of honor for the millions of jobs it helps support.
Energy Exports
- The US exported 2.59 million barrels of petroleum per day in 2021
Interpretation
In 2021, the US was clearly not just exporting oil, but also shipping out barrels of sheer ambition and determination. With 2.59 million barrels of petroleum per day venturing beyond its borders, it seems America was single-handedly fueling both internal energy needs and international curiosity. So, while the rest of the world may have been admiring the economic prowess, one can't help but wonder if this impressive export figure was merely the US's way of saying, "Yes, we can literally send our resources rolling in barrels across the globe."
Export Composition
- Capital goods accounted for 34.1% of US exports in 2021
- The US exported $169.3 billion worth of civilian aircraft, engines, and parts in 2021
- The US exported $145.1 billion worth of semiconductors and related devices in 2021
- The US exported $68.8 billion worth of motor vehicles in 2021
- The US exported $70.1 billion worth of pharmaceuticals in 2021
- The US exported $51.3 billion worth of medical equipment in 2021
- The US exported $49.5 billion worth of plastics in 2021
- The US exported $38.2 billion worth of organic chemicals in 2021
- The US exported $37.8 billion worth of measuring and testing instruments in 2021
- The US exported $34.1 billion worth of industrial machinery in 2021
- The US exported $31.5 billion worth of electrical equipment in 2021
- The US exported $29.7 billion worth of optical and medical instruments in 2021
Interpretation
In a dazzling display of economic prowess, the United States flexed its muscles on the global stage in 2021, showcasing an impressive array of exports that ranged from cutting-edge semiconductor technology to sky-soaring civilian aircraft. With a cocktail of high-tech wizardry and industrial might, the US danced its way to the top ranks of international trade, proving once again that when it comes to sending goods abroad, Uncle Sam doesn't just play the game – he sets the rules. Whether it's soaring through the clouds or delving into the microscopic realm of chips and devices, the US export numbers for 2021 are a testament to the country's diverse and formidable export portfolio, leaving other nations green with envy and investors scrambling for a piece of the lucrative American pie.
Export Destinations
- Canada was the top destination for US exports in 2021, accounting for 17.5% of total exports
- Mexico was the second-largest destination for US exports in 2021, accounting for 15.8% of total exports
- The US exported $441.5 billion worth of goods to the European Union in 2021
- China was the third-largest destination for US exports in 2021, accounting for 8.6% of total exports
- Japan was the fourth-largest destination for US exports in 2021, accounting for 4.3% of total exports
- The US exported $177.8 billion worth of goods to the United Kingdom in 2021
- South Korea was the fifth-largest destination for US exports in 2021, accounting for 3.7% of total exports
- Germany was the sixth-largest destination for US exports in 2021, accounting for 3.6% of total exports
- The US exported $131.6 billion worth of goods to the Netherlands in 2021
- The United Kingdom was the seventh-largest destination for US exports in 2021, accounting for 3.5% of total exports
- The Netherlands was the eighth-largest destination for US exports in 2021, accounting for 3.1% of total exports
- The US exported $71.6 billion worth of goods to Brazil in 2021
- India was the ninth-largest destination for US exports in 2021, accounting for 2.4% of total exports
- Taiwan was the tenth-largest destination for US exports in 2021, accounting for 2.3% of total exports
- The US exported $68.9 billion worth of goods to France in 2021
- Singapore was the eleventh-largest destination for US exports in 2021, accounting for 2.1% of total exports
- The US exported $59.5 billion worth of goods to Australia in 2021
Interpretation
In the game of international trade, the United States is like a skilled artist, painting masterpieces on the canvas of global commerce. With Canada as its favorite muse, the US exported its goods far and wide in 2021, captivating audiences in Mexico, the European Union, China, Japan, and beyond. Like a savvy diplomat armed with products instead of policies, the US forged economic alliances with countries like the United Kingdom, South Korea, and Germany, creating a symphony of trade that resonated all the way to Brazil, India, and Taiwan. With each export, the US showcased its economic prowess, proving that when it comes to commerce, Uncle Sam knows how to steal the show.
Global Ranking
- The US was the world's second-largest exporter in 2021
Interpretation
In a global economy where size really does matter, the US cemented its status as a heavyweight contender with a stellar performance in 2021, coming in as the world's second-largest exporter. This ranking is not just a mere statistic; it speaks volumes about the country's economic prowess and the reach of its products across international borders. While being the runner-up may not always be glamorous, in the world of exports, it's a position of strength that signifies the impact and influence the US has on the global market.
Services Exports
- Services exports totaled $705.6 billion in 2021
- The US exported $208.6 billion worth of services to the European Union in 2021
- Travel services accounted for $118.1 billion of US exports in 2021
- The US exported $76.1 billion worth of financial services in 2021
- Intellectual property charges accounted for $115.3 billion of US exports in 2021
- The US exported $47.5 billion worth of telecommunications services in 2021
- Business services accounted for $186.7 billion of US exports in 2021
- The US exported $26.7 billion worth of insurance services in 2021
- Government goods and services exports totaled $23.8 billion in 2021
- The US exported $21.8 billion worth of personal, cultural, and recreational services in 2021
- The US exported $18.9 billion worth of maintenance and repair services in 2021
Interpretation
In a dazzling display of economic prowess, the USA's services exports in 2021 reached a whopping $705.6 billion. It seems Uncle Sam was the life of the party, charming the European Union out of $208.6 billion worth of services, including some seductive travel services at $118.1 billion. But let's not forget the financial finesse, where a cool $76.1 billion was exported, alongside a touch of mental acrobatics with $115.3 billion in intellectual property charges. With telecommunications, business, and insurance services also in the mix, it's clear that the USA knows how to monetize every skill set, even throwing in a dash of cultural and recreational services for good measure. The moral of the story? Uncle Sam doesn't just export goods; he exports experiences, expertise, and a touch of American panache.
State-level Exports
- California was the top exporting state in 2021, with $175.1 billion in exports
- Texas was the second-largest exporting state in 2021, with $375.3 billion in exports
- New York was the third-largest exporting state in 2021, with $78.1 billion in exports
- Illinois was the fourth-largest exporting state in 2021, with $65.8 billion in exports
- Michigan was the fifth-largest exporting state in 2021, with $53.4 billion in exports
- Ohio was the sixth-largest exporting state in 2021, with $51.1 billion in exports
- Washington was the seventh-largest exporting state in 2021, with $50.9 billion in exports
Interpretation
In a classic case of state-by-state showmanship, California proudly strutted its stuff as the reigning champion of exports in 2021 with a whopping $175.1 billion in goods shipped off into the wide world. However, Texas, always one to give a good challenge, flexed its economic muscles as the close second with $375.3 billion in exports, leaving other states in awe of its prowess. Meanwhile, New York, Illinois, Michigan, Ohio, and Washington played their roles as the supporting cast, not to be outdone in the grand performance of state export rankings. It's a tale of trade balances, economic might, and perhaps a friendly rivalry among states vying for the coveted title of top export powerhouse.
Total Export Value
- The US exported $2.24 trillion worth of goods and services in 2021
- The US exported $2.53 trillion worth of goods and services in 2019, before the COVID-19 pandemic
- The US exported $1.75 trillion worth of goods in 2021
- The US exported $1.43 trillion worth of goods in 2020, during the COVID-19 pandemic
- The US exported $2.13 trillion worth of goods and services in 2020
Interpretation
The fluctuating figures of US exports over the past few years tell a tale of resilience in the face of adversity. Despite the challenges presented by the COVID-19 pandemic, the US managed to maintain a strong export economy, showing that even a global health crisis couldn't completely tarnish the nation's export prowess. While the numbers may have dipped and surged like a turbulent stock market, they ultimately reflect the tenacity and adaptability of American businesses in navigating uncertain times and continuing to showcase the world the value of their goods and services.
Trade Balance
- The US trade surplus in services was $231.5 billion in 2021
Interpretation
In a time when tangible goods often steal the limelight, the US trade surplus in services stands tall as a shining beacon of economic prowess. At $231.5 billion in 2021, this surplus is a testament to the power of intangible yet invaluable offerings - from innovative technologies and financial expertise to the allure of American culture and education. It's clear that the US isn't just making and selling things, but also mastering the art of exportable services, proving once again that in the global economy, sometimes it's not what you can hold in your hands that counts, but rather what you can offer with your mind and creativity.
