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Export News
12-01-2024
International trade is a significant driving force for the United States exports, with overseas goods and services exports averaging over 10% of the U.S. GDP in the past two decades.
As the world's largest trading nation, the United States is a cornerstone of the global economy. Currently, the U.S. has trade relations with over 200 countries, regions, and associations worldwide. Due to a substantial reliance on foreign manufacturing, the U.S. trade deficit continues to widen. The United States stands as the world's largest service exporter and the second-largest goods exporter.
The United States depends on importing products from countries with lower prices to meet consumer demands, while exports help create job opportunities for Americans and enable businesses to expand into foreign markets.
Which countries are the biggest export partners for the United States?
In 2023, the United States' largest goods export destinations are Mexico ($438.9 billion, 14.87%), China ($393.1 billion, 13.32%), and Canada ($387.7 billion, 13.13%), accounting for over 40% of United States imported goods. Germany ($146 billion, 4.95%) ranks fourth, and Japan ($135.7 billion, 4.6%) rounds out the top 5.
Common United States export goods include crude oil and other petroleum products, pharmaceuticals, natural gas, and automobiles.
Financial services, international travel, and research and development were among the most popular export services from the United States last year.
How do importers identify import opportunities?
Typically, importers already know what they want to import—they just need some assistance or guidance to complete the process.
However, in certain cases, importers may be seeking potentially lucrative industries, products, or services to facilitate their business growth. There are two methods to achieve this: the first method is to passively wait for potential new customers to contact you, inquire about your products or services, and hopefully place an order one day.
The second recommended method to increase United States exports is to identify strategic buyers for your products or services, target niche markets for your goods, identify countries where there is demand for the products you sell, and pinpoint global companies you will be competing with. Although this strategy requires more effort, it has the potential to bring significant, sustained growth, helping your company elevate its revenue and profits to a new level.
Tendata provides market analysis to help you identify business opportunities. It presents information in clear charts, explaining which products have higher global demand and market potential. You can also assess whether to enter new industries by examining your competitors, helping you understand where and how to focus your efforts.
How Shanghai Tendata Empowers Growth with Foreign Trade Big Data？
Tendata iTrader is a versatile foreign trade application tool and a great asset for professionals in the international trade industry.
(1) Real-time Access to Comprehensive Global Data: Tendata iTrader offers real-time access to customs data from 91 countries, customs code inquiries, and an extensive collection of foreign trade supply chain data, import-export statistics, and international company data. Companies can freely select the foreign trade databases corresponding to their trade regions and use nine different search methods to tailor their data queries based on single or multiple criteria. The search results can generate 19 types of market reports, and users can perform online comparative analyses as well. (>>> Click to use The Data Online for Free)
(2) Detailed Transaction Records from 91 Countries: Tendata's data system automatically integrates millions of accurate buyer information, detailed transaction data from 91 countries, and competitor details. It intelligently generates various data analysis reports, empowering companies to analyze competitors, maintain relationships with new and existing customers, and stay up-to-date with real-time international trade information. How is Shanghai Tendata performing?(>>> Click for Free Demo)
(3) Internet Search of Email Addresses in 153 Countries: With Tendata's proprietary web crawling technology, companies can access and validate email addresses in 153 countries, making mass email campaigns worry-free. Potential customers are automatically categorized by level, allowing users to find decision-makers within a minute. Choose from various email templates with unlimited sending capabilities. Tendata's data effectiveness is quite impressive. (>>> Click for More Details)
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