This week the U.S. Census Bureau and the Bureau of Economic Analysis issued full year 2016 U.S. international trade in goods and services data. The top five countries based on trade in goods in 2016 were China, Canada, Mexico, Japan and Germany.
Trade in goods with China was $578.6 billion. Exports were $115.8 billion and imports were $462.8 billion. The top three U.S. exports to China in 2016 were civilian aircraft, soybeans and passenger cars. The primary imports were cell phones and other household goods, computers, and telecommunications equipment.
The second largest goods trading partner was Canada, at $544.9 billion. Exports to Canada were $266.8 billion and imports were $278.1 billion. The top U.S. exports to Canada were automotive parts and accessories; passenger cars; and trucks, buses, and special purpose vehicles. The top imports from Canada were passenger cars, crude oil, and automotive parts and accessories.
Mexico was the third largest U.S. trading partner in goods in 2016, totaling $525.1 billion. Exports were $231.0 billion and imports totaled $294.2 billion. The primary exports to Mexico were automotive parts and accessories, electric apparatus, and computer accessories. On the import side, the primary categories were also automotive parts and accessories; trucks, buses, and special purposes vehicles; and passenger cars.
Japan saw the fourth highest level of merchandise trade with the United States in 2016, totaling $195.5 billion. Exports were $63.3 billion and imports were $132.2 billion. The primary U.S. exports to Japan were civilian aircraft, engines and parts, followed by pharmaceutical preparations and medicinal equipment. On the import side, the top category was passenger cars, followed by automotive parts and accessories and industrial machines.
Germany rounded out the list of the top five goods trading partners with the United States in 2016, at $163.6 billion. Exports were $49.4 billion and imports were $114.2 billion. The top U.S. exports to Germany were passenger cars; civilian aircraft, engines, and parts; and pharmaceutical preparations. The primary imports were passenger cars, pharmaceutical preparations, and automotive parts and accessories.