The following are the top 10 countries importing U.S. products and services in 2010, according to the most recent data available from the U.S. Census Bureau and other U.S. government sources.
No one should be shocked Canada is still the number one importer of U.S. goods. However, there are a few surprises - such as Singapore beating France for the number ten spot.
1. Canada: $228 Billion
Even with the global automotive industry in decline, the top U.S. product imported was automotive-related, including accessories and parts.
2. Mexico: $149 Billion
With all the media attention U.S. trade with China receives, it may come as a surprise that Mexico still imports more U.S. goods and services than the far more populous country of China. Like Canada, Mexico’s primary import from the U.S. was automotive-related.
3. China: $82 Billion
At $82 billion, China is a distant third in U.S. imports compared to Canada and Mexico, but it is quickly rising. China’s number one import is computer accessories, parts, and peripherals. Part of this is related to the computer assembly industry, but also includes sales to Chinese retailers and end-users.
4. Japan: $55 Billion
The primary import in 2010 from America’s fourth-largest trading partner was civilian aircraft. However, if you were to add all agricultural exports to Japan, it would far outstrip aviation products.
5. United Kingdom: $44 Billion
With the U.S. travel market facing tough times, the aviation industry turned to the international market. Like Japan, the U.K.’s primary import from “across the pond” was civilian aircraft. Following this were chemicals and primary resources (such as metal for manufacturing).
6. Germany: $44 Billion
Germany imported only $200 million less than the U.K. Its top imports from the states were pharmaceutical-related imports, such as drug-preparation chemicals.
7. South Korea: $35 Billion
South Korea continues to be one of the most promising countries for U.S. exports. The number one U.S. export to the country was semiconductors, followed by products for chemical manufacturing (not pharmaceutical chemicals like Germany).
8. Brazil: $32 Billion
Latin America’s largest economy is also home to some of the region’s largest reserves of natural resources, like crude oil and natural gas. Its biggest import from the U.S. was chemical manufacturing, much of it related to its exploration and extraction of these natural resources.
9. The Netherlands: $31 Billion
Another surprise on this top ten list may be the tiny country of the Netherlands, population sixteen million. However, with one of the highest incomes per capita of any nation, its people can afford to import. Like its European neighbor Germany, its largest import from the U.S. was pharmaceutical preparations.
10. Singapore: $26 Billion
The even smaller nation of Singapore made the list of the top ten destinations for U.S. exports. Like South Korea - one of the other “Asian Tigers” - Singapore’s primary import from the U.S. was computer/electronic-related.
Together, these 10 countries compose 62% of all U.S. exports for 2010. As we’re in the midst of the global economy rebounding, it will be interesting to see what which countries make this list in 2011!