Business Environment Profiles - United States
Published: 19 March 2025
Total exports
2658 $ billion
4.4 %
This report tracks the total exports of goods and services out of the United States for each calendar year. The data for this report is sourced from the Bureau of Economic Analysis and presented in chained 2017 dollars.
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US exports have been influenced by a complex interplay of global economic factors. The pandemic initially caused a significant slowdown, but as economies recovered, export growth rebounded strongly. Rising commodity prices, particularly in energy-related products, minerals, and metals, contributed to higher trade values. The improving global economy drove demand for various goods, with sectors like chemicals and related products seeing substantial increases. Additionally, the growth of trade with large Asian developing economies played a crucial role in shaping export trends.
In recent years, US export growth has been primarily driven by increased demand from key trading partners such as Canada, Mexico, and China. The trade value of high-performance servers and electric vehicles saw significant increases, reflecting the growing importance of green energy and AI-related products. Food and beverages, as well as industrial supplies, led export growth in some sectors. However, the strong US dollar has posed challenges for export competitiveness, making American goods relatively more expensive in international markets.
Over the past year, US exports have faced headwinds from global economic uncertainties and geopolitical tensions. The growing trade disputes with China have continued to impact certain sectors, while efforts to diversify supply chains have led to shifts in trade patterns. Agricultural exports have been particularly affected, with the US experiencing a rare trade deficit in this sector. Factors such as climate change-induced production shortages in critical export commodities like corn, wheat, and cotton have contributed to this trend. Despite these challenges, energy exports have remained strong, with the US solidifying its position as a major exporter of oil and natural gas.
Geopolitical factors have increasingly shaped US trade patterns. The expansion of tariffs, subsidies, and industrial policies by major economies, including the US, has reshaped trade flows. These measures are often tied to economic security and climate goals. The lack of new free trade agreements since 2012 (the USMCA was built upon NAFTA) has also impacted US export competitiveness, as other countries continue to forge new trade partnerships. The formation of trade blocs like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has caused US market shares to shrink in some Pacific Rim markets.
Looking ahead to the next five years, several factors will impact US exports. The US evolving tra...
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