The United States of America as per the Economic Complexity Index states the country’s economy to be at the seventh position and the third biggest trade economy in the world. As per the statistics of USA import of 2020, the country has been the top-most importer in the world and has surely recorded an increase in both export and import prices in March 2021. The US trade reveals that the price index of imports has shown an increase by 1.2% in the month of March of 2021. Value of total US import shipment can be recorded to USD 202.1billion in 2020 which later revealed to have decreased in 2021.
Due to the coronavirus pandemic situation in 2020, United States had to suffer from many trade restrictions. This showed a downfall in both exports and imports in 2020 as compared to 2019. Since this pandemic situation, the country had to go through various economic disruptions. The country also had to put some tariff barriers with its largest trading partner, China.
According to the import data of the USA of 2019, the country has some important imports of commodities which are like:
- Cars of 178 billion dollars
- Crude Petroleum of 123 billion dollars
- Computers of 81.9 billion dollars
- Broadcasting equipment of 81.8 billion dollars
- Packaged medicament of 79.5 billion dollars
All of these commodities were mainly imported forms its trading partners which were:
- China of 429 billion dollars
- Mexico of 361 billion dollars
- Canada of 314 billion dollars
- Japan of 134 billion dollars and Germany of 131 billion dollars
This year, the United States of America was the world’s biggest importer of Cars, Computers, Broadcasting Equipment, Packaged medicaments, and vehicle parts. The customs data shows that around 45.3% of America’s value of total imports was from the Asian exporters. And the rest 25.6% from North American trade partners and 23.9% from Europe. Lastly, the remaining percentages were reported from other countries like Africa, Latin America, and Oceania.
Indian Traders can get valuable information about the USA import data from the information that is collected from genuine sources. The trade data covers the information of all the transactions that are made between the USA and foreign countries. The information is gathered from shipment details collected from customs departments, Port Authorities, Shipping & Logistics Companies, Government bodies, and Trade Associations. Indian traders can get custom-based details like:
- Date of the shipment
- Consignee name
- Address of Consignee
- Shipper Name & address
- HS Code
- Product Description
- Loading port
- Name of unloading port
- Foreign Country name
- Mode of Transportation etc.