That dollar amount results from a 44.9% acceleration from $1.425 trillion five years earlier in 2020, slowing to a 2.2% increase compared to $2.019 trillion for 2023.
To give some statistical perspective, America’s exports represent 8.7% of the overall value of all goods exported around the globe one year earlier in 2023 ($23.652 trillion). That percentage is an advance from an 8.2% share in 2023.
Applying a continental lens, about a third (33.1%) of America’s exports by value was delivered to fellow North American trade partners while 30% was sold to importers in Asia. The United States shipped another 23.5% worth of products to customers in Europe.
Smaller percentages went to buyers in Latin America (9.9%) plus the Caribbean but excluding Mexico, Oceania (1.9%) led by Australia and New Zealand, then those in Africa (1.6%).
United States of America’s Top Trading Partners
Below is a list showcasing 25 of America’s top trading partners in terms of generating US export sales; that is, countries that imported the most American shipments by dollar value during 2024. Also shown is each import country’s percentage of total American exports.
- Canada: US$348.5 billion (16.9% of total US exports)
- Mexico: $334 billion (16.2%)
- mainland China: $143.5 billion (7%)
- Netherlands: $89.6 billion (4.3%)
- United Kingdom: $79.9 billion (3.9%)
- Japan: $79.7 billion (3.9%)
- Germany: $75.6 billion (3.7%)
- South Korea: $65.5 billion (3.2%)
- Brazil: $49.7 billion (2.4%)
- Singapore: $46 billion (2.2%)
- France: $44.4 billion (2.2%)
- Taiwan: $42.3 billion (2.1%)
- India: $41.8 billion (2%)
- Australia: $34.6 billion (1.7%)
- Belgium: $34.2 billion (1.7%)
- Italy: $32.5 billion (1.6%)
- Hong Kong: $27.9 billion (1.4%)
- Malaysia: $27.7 billion (1.3%)
- United Arab Emirates: $27 billion (1.3%)
- Switzerland: $25 billion (1.2%)
- Spain: $23.9 billion (1.2%)
- Colombia: $19 billion (0.9%)
- Chile: $18.2 billion (0.9%)
- Thailand: $17.7 billion (0.9%)
- Ireland: $16.5 billion (0.8%)
Over four-fifths (84.5%) of American exports in 2024 was delivered to the above 25 trade partners.
The greatest percentage increases in purchases of US exported goods among these top trading partners belong to buyers in Malaysia (up 42.5% from 2023), Thailand (up 13.2%), Italy (up 12.3%), Brazil (up 10.8%) and the Netherlands (up 9.1%).
Posting double-digit declines among the top 25 customers for American exports were Belgium (down -12% from 2023) then Switzerland (down -10.5%).
Countries Causing Biggest US Trade Deficits
Overall, the United States of America incurred a -US$1.295 trillion trade deficit for 2024. That deficit represents a 12.3% expansion from the -$1.153 trillion in red ink resulting from America’s international trade one year earlier in 2023.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have incurred a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
United States incurred the highest trade deficits with the following countries.
- mainland China: -US$319.1 billion (country-specific trade deficit in 2024)
- Mexico: -$175.9 billion
- Vietnam: -$129.4 billion
- Germany: -$87.9 billion
- Ireland: -$87.2 billion
- Taiwan: -$76.4 billion
- Canada: -$73.7 billion
- Japan: -$72.3 billion
- South Korea: -$69.9 billion
- India: -$49.5 billion
Among America’s trading partners that cause the greatest negative trade balances, US deficits with Taiwan (up 52.4%), Ireland (up 32.6%) and South Korea (up 27.4%) grew at the fastest pace from 2023 to 2024.
Two among the top US trading partners experienced declines in American trade deficits, namely Canada (down -6% from 2023) and Japan (down -4.1%).
These cashflow deficiencies clearly indicate America’s competitive disadvantages with the above countries, but also represent key opportunities for United States to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Greatest US Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
United States incurred the highest trade surpluses with the following countries.
- Netherlands: US$54.6 billion (country-specific trade surplus in 2024)
- Hong Kong: $21.8 billion
- United Arab Emirates: $19.2 billion
- Australia: $17.5 billion
- United Kingdom: $10.7 billion
- Panama: $10.1 billion
- Belgium: $5.9 billion
- Brazil: $5.5 billion
- Dominican Republic: $5.4 billion
- Guatemala: $4.3 billion
Among America’s trading partners that generate the greatest positive trade balances, US surpluses with Brazil (up 43.9%), Netherlands (up 27.5%) and the United Kingdom (up 24.1%) grew at the fastest pace from 2023 to 2024.
US trade surpluses shrank by double-digits with the Belgium (down -61.5% year over year).
The positive cashflow streams highlight America’s competitive advantages with the above countries, and also represent key opportunities for United States to develop country-specific strategies to optimize its overall position in international trade.
Exports Companies Servicing American Trading Partners
According to JOC.com, the following were the top US companies that shipped products from United States to its importing partners around the globe. Shown within parenthesis is the product category that the American business specializes in.
- DeLong (animal feed, grain)
- Denison International (recyclable paper)
- DuPont (diversified chemicals)
- International Paper (paper, packaging)
- Koch Industries (recovered wastepaper, plastic scrap, animal feeds)
- MeadWestvaco/RockTenn (paper, packaging)
- Newport CH International (recycled paper, metals, plastics)
- Potential Industries (paper for recycling)
- Sims Metal Management (recycled metals, electronics)
See also United States Top 10 Imports, United States Top 10 Exports, Top United States Trade Balances, America’s Top 20 Export States and United States Top 100 Consumer Product Exports
Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 25, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 25, 2025
International Trade Centre, Trade Map. Accessed on March 25, 2025
Investopedia, Net Exports Definition. Accessed on March 25, 2025
JOC.com, Top 100 US Exporters. Accessed on March 25, 2025
Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 25, 2025
Wikipedia, List of Companies of United States. Accessed on March 25, 2025