What Goods And Services Does The Us Produce
The United States is an exporting powerhouse, but you wouldn't know it given how much President Donald Trump complains well-nigh imports and merchandise gaps.
Yes, the nation'south businesses and consumers spent $566 billion more than on imported goods and services in 2017 than the The states sold in exports. But American companies however sold $2.3 trillion in goods and services to strange businesses and consumers.
Some trading partners have threatened to take action against American products in retaliation for President Trump's proposed tariffs on imported steel and aluminum. Europe said it may impose tariffs on Harley-Davidson (Sus scrofa) motorcycles and Kentucky bourbon. Brazil is threatening to cut back on purchases of U.South. coal.
Those may exist high-profile products, merely none are big Usa exports.
Related: A Trump merchandise war would hit red states difficult
For example, Harley-Davidson sold about 45,000 motorcycles in Europe, the Heart East and Africa in 2017. All those bikes cost as much every bit a few of Dreamliner rider jets from Boeing.
Top U.S. goods exports
Here'south a breakdown of the biggest U.South. consign industries in 2017, co-ordinate to the U.S. Commerce Department.
Food, beverage and feed: $133 billion. Soybeans were the number one product in this category, with sales of $22 billion, followed by meat and poultry at $18 billion.
Crude oil, fuel and other petroleum products: $109 billion. This is one of the fastest growing areas of U.s. exports, upward 37% in just the concluding year.
Civilian shipping and aircraft engines: $99 billion. This is what makes Boeing (BA) the nation's largest unmarried exporter.
Auto parts, engines and automobile tires: $86 billion. Many of these are shipped to assembly plants endemic by both US and strange automakers in Mexico and Canada. It's one of the reasons losing NAFTA would be then difficult for the auto industry.
Industrial machines: $57 billion.
Passenger cars: $53 billion. American motorcar plants supply much of North and South America with cars, and likewise transport to other markets as well. BMW's largest plant is in South Carolina, where it builds all of its X series SUVs. Last yr it exported about 3-quarters of the 371,000 cars it built there, making it the biggest machine exporter in the United States.
Pharmaceuticals: $51 billion.
Top U.S. service exports
But the goods that the United States exports only tell part of the story. Services are the biggest United states of america export, with total foreign sales of $778 billion final year. Indeed, the United states has a $243 billion trade surplus in services, which is expert news since service industries account for 71% of US jobs.
These are the service industries that bring in the most coin:
Travel and transportation: $236 billion.
Finance and insurance: $76 billion.
Sales from intellectual property: $49 billion. This includes software, movies and television shows.
What Goods And Services Does The Us Produce,
Source: https://money.cnn.com/2018/03/07/news/economy/top-us-exports/index.html
Posted by: scottjudetted.blogspot.com
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