U.S. Trade with China

2023-06-30 15:59:56

In 2022, both U.S. exports to China and imports from China continued to grow for a third year in a row. U.S.  exports totaled $153.8 billion, an increase of 1.6% ($2.4 billion) from 2021; U.S. imports from China totaled $536.8 billion, an increase of 6.3% ($31.8 billion); and the trade deficit with China was $382.9 billion, an  increase of 8.3% of ($29.4 billion).  


In 2022, 7.5% of total U.S. exports of $2.1 trillion to the World were exported to China, 16.5% of total U.S.  imports of $3.2 trillion were imported from China, and 32.4% of total U.S. trade deficit was with China.


Mechanical Appliances, Sound Recorders and TV sets are the most traded commodity sectors. In 2022, after  four consecutive years of increases, U.S. exports of those commodities decreased by 14.3% ($5.2 billion) from  $36.1 billion in 2021 to $30.9 billion. U.S. imports slightly increased by 3.0% ($7.3 billion) from $241.6 billion  in 2021 to $248.9 billion, constituting 26.8% of total U.S. imports of those commodities.


In 2022, U.S Exports of Agricultural Products to China continued to grow for the fourth year in a row,  increasing by 12.4% ($3.9 billion) from $31.6 billion in 2021 to $35.5 billion, constituting 18.4% of total U.S.  exports of Agricultural Products.


In 2022, China remained a major source of U.S. imports of Textile Products. U.S. imports increased by 6.7%  ($3.4 billion) from $50.3 billion in 2021 to $53.7 billion, constituting 29.7% of the total U.S. imports of those  commodities.


Additionally, in 2022, China remained a major source of U.S. imports of Furniture, Bedding, Lamps, Toys,  Games, Sports Equipment, Paint, and other Miscellaneous Manufactured Items. U.S. Imports slightly increased  by 1.3% ($0.9 billion) from $68.5 billion in 2021 to $69.4 billion, constituting 50.7% of total U.S. imports of  those commodities.

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