Machinery Having Individual Functions in United States | The Observatory of Economic Complexity

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Exports In 2022, United States exported $33.1B in Machinery Having Individual Functions, making it the 2nd largest exporter of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 12th most exported product in United States. The main destination of Machinery Having Individual Functions exports from United States are: South Korea ($5.83B), China ($5.7B), Chinese Taipei ($4.55B), Singapore ($2.87B), and Japan ($2.45B).

The fastest growing export markets for Machinery Having Individual Functions of United States between 2021 and 2022 were South Korea ($3.91B), China ($3.87B), and Chinese Taipei ($3.21B).

Imports In 2022, United States imported $26B in Machinery Having Individual Functions, becoming the 2nd largest importer of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 16th most imported product in United States. United States imports Machinery Having Individual Functions primarily from: Japan ($5.82B), Germany ($3.17B), China ($2.25B), Netherlands ($1.9B), and Singapore ($1.88B).

The fastest growing import markets in Machinery Having Individual Functions for United States between 2021 and 2022 were Japan ($2.94B), Singapore ($1.39B), and Netherlands ($907M).

COMPANIES In 2023, leading companies such as LG Electronics (491), Atekcity (432), and CrimsonLogic (406) were at the forefront of shipping Machinery Having Individual Functions to the United States.

Latest Trends

June 2024

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Overview In June 2024 United States' Machinery Having Individual Functions exports accounted up to $677M and imports accounted up to $1.14B, resulting in a negative trade balance of $464M. Between June 2023 and June 2024 the exports of United States' Machinery Having Individual Functions have decreased by $-12.7M (-1.84%) from $690M to $677M, while imports increased by $47.6M (4.36%) from $1.09B to $1.14B.

Destinations In June 2024, Machinery Having Individual Functions were exported mostly to Mexico ($194M), Canada ($128M), Germany ($36.1M), China ($29.2M), and Saudi Arabia ($23.9M), and were imported mostly from Germany ($193M), South Korea ($166M), Canada ($134M), China ($115M), and Japan ($89.7M).

Growth In June 2024, the decrease in Machinery Having Individual Functions's year-by-year exports was explained primarily by a decrease in exports to China ($-9.57M or -29.1%), South Korea ($-9.5M or -55.9%), and South Africa ($-7.71M or -90.7%). In June 2024, the increase in Machinery Having Individual Functions's year-by-year imports was explained primarily by an increase in imports from Germany ($62.7M or 36.8%), Mexico ($26.3M or 45.6%), and Switzerland ($17.1M or 62.4%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (June 2023 - June 2024)$-12.7M(-1.84%)

IMPORT GROWTH (June 2023 - June 2024)$47.6M(4.36%)

MAIN EXPORTER (June 2024)Texas$215M

MAIN DESTINATION (June 2024)Mexico$194M

This section shows Machinery Having Individual Functions's exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Machinery Having Individual Functions over time.

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