USA import and export information – NEW
USA import and export information – General Information
The economy of the United States is that of a highly developed country with a mixed economy.  It is the world’s largest economy by nominal GDP and net wealth and the second-largest by purchasing power parity (PPP). The current population of the United States of America is 332,066,237 people.
Although the United States does not have an official language, the most commonly used language is English (specifically, American English), which is the de facto national language.
The United States dollar is the official currency of the United States. From east to west there are Atlantic Standard Time (AST), Eastern Standard Time (EST), Central Standard Time (CST), Mountain Standard Time (MST), Pacific Standard Time (PST), Alaskan Standard Time (AKST), Hawaii-Aleutian Standard Time (HST), Samoa standard time (UTC-11) and Chamorro Standard Time (UTC+10).
USA import and export information – Sector by percentage
Agriculture -1%
Industry – 19%
Services – 80%
The USA economy as with most economies in the world was badly impacted by Covid19 in 2020. However in the third quarter of 2020 the USA economy bounced back and achieved an impressive 33.4% annualised growth rate. During this period private goods producing industries grew by 47.2%, private services producing industries grew by 35.1% and government production increased by 10.1%.
Detailed information on the USA economy by sector can be found in this article by the U.S. Bureau of Economic Analysis
USA import and export information – Main categories
USA main exports by category:
- Machinery including computers
- Mineral fuels including oil
- Electrical machinery, equipment
- Aircraft, spacecraft
- Vehicles
- Optical, technical, medical apparatus
- Plastics, plastic articles
- Gems, precious metals
- Pharmaceuticals
- Organic chemicals
USA main imports by category:
- Machinery including computers
- Electrical machinery, equipment
- Vehicles
- Mineral fuels including oil
- Pharmaceuticals
- Optical, technical, medical apparatus
- Furniture, bedding, lighting, signs, prefab buildings
- Plastics, plastic articles
- Gems, precious metals
- Organic chemicals
USA import and export information – Trade information
USA major international trade partners are China, Europe Union, Mexico, Canada, Japan.
USA is a member of the WTO, OECD and others
Total value of export – $ 2,54 trillion
Total value of imports – $ 3,19 trillion
The United States currently has free trade agreements with the following countries: Australia, Bahrain, Canada, Chile, Columbia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, South Korea, Mexico, Morocco, Nicaragua, Oman, Panama, Peru and Singapore.
Now that the United Kingdom is no longer a member of the European Union it is keen to negotiate a comprehensive trade agreement with the United States. Currently negotiations have only reached a conclusion on Mutual Recognition Agreements (MRA) where goods produced in the United Kingdom can be tested for their compliance with United States standards in the United Kingdom and vice versa.
Any trade deal between the United Kingdom and United States is expected to face problems in the areas of agriculture and pharmaceuticals and so could be some years away.
Negotiations of a new trade agreement between the USA and China have of course been very complex and difficult. China had agreed to buy around $200 billion of US produced goods during 2020 and 2021 in return for a reduction on tariffs worth around $120 billion. However, China is a long behind target in meeting its commitments under the deal, the BBC have reported that they have bought only 58% of the required amount so far.
USA import and export information
USA import and export information – Business development information
Ease of doing business ranking –6th in the world
International dialing code – +1
Main business domain – .us
blackcat360.com offers FREE listing to businesses in the USA and all other countries of the world. Just visit the home page and click Add Listing to have your business included. We also provide useful information on other national economies in our Country Guides. A sample listing can be seen below for Georgia wine producer and exporter Winery Gileni.
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USA import and export information
