Exports in the U.S. have risen from $448bn to $1.55tn during the past 25 years, but which export classes make the most money?
The USA has 248 export classes valued over $1bn, three times greater than a quarter of a century past.
But besides the stereotypical exports from The States such as corn and cotton, medicines, meat and gold, which are the best export market categories that actually rake in dollars?
Aircraft is far and away the largest export category in terms of monetary value from the U.S. – one-third more valuable than the second export with this list .
1 thing that’s certain is that the likes of Boeing wouldn’t enjoy a trade war between the world’s two export powerhouses.
The value of the gas market has increased massively in the last few years, regardless of the clamour from authorities to turn to renewable energy resources and international businesses to be viewed as green.
This past year, gas (including other refined petroleum products) raked in only under $77.5bn whilst Mexico holds 27% market share and Canada 11%.
It is estimated that this year overseas motor manufacturers will create more vehicles in the USA compared to U.S. firms will. This past year, a vast majority of those exports entered the Chinese, Mexican and Chinese markets with two U.S. ports exporting over $1b each throughout the year.
Perhaps not surprisingly, among the nations which lead in automobile exports also makes a whole lot of cash exporting individual motor components. However, the motor industry is cautious of possible NAFTA disturbance that could alter the face of this auto-exporting industry.
The first’modern’ export to create the top-5 U.S. export classes is that of computer chips. Given the small size of the export, the majority of the product travel abroad via airfreight – 50% of that from only four airports in Los Angeles, Dallas, San Francisco and Cleveland.
What other products are also leading exports to the U.S.? Food, drink and feed has been the top value class when combined worth a $133bn. Soybeans made up $22bn of the, with poultry and meat only behind at $18bn.
Concerning services, travel and transport ($136bn), finance and insurance ($76bn) and intellectual property earnings ($49bn) accounts for the most.