US Exports: American Dream Delivered

If you're not an American, browse through your stuff and it is impossible that you won't find anything made in the United States. The shoes you are wearing, the cereals on top of your refrigerator, the car in your garage --- they may be American exports that reached your country with the help of international trade.

The United States is still the world's superpower; thus, a major player in the global economy. Whatever happens to the US economy affects the international markets positively or negatively. A significant chunk of the income of the US is a result of the country's active role in international trade.

In 2006 alone, US exports grew by a little less than 13 percent to $1.4 trillion. Exports comprised more than 11 percent of the country's gross domestic product (GDP), the highest ever in history in dollar terms. The country's top export commodities are capital goods, comprising 49 percent of the total export products. These include motor vehicle parts, aircraft, telecommunications equipment, computers and transistors. Industrial supplies and organic chemicals rank second, comprising 26.8 percent of total export products. Automobiles, medicines and other consumer goods comprise 15 percent. More than nine percent is comprised of agricultural products including soybeans, corn, fruits and wheat. Another large export of the US is international travel. It actually ranks ahead of agricultural products and automobiles. Purchases of goods and services by foreign travelers such as lodging, food and gifts while in the US are considered exports. In 2006, foreign visitors spent US$107.4 billion in travel receipts. This includes passenger fares.

The main export partners of the United States are Canada (23 percent), Mexico (14 percent), Japan (6 percent), China (6 percent), and the United Kingdom (3 percent). China is the fourth biggest export partner of the US. Exports to this Asian country have grown by more than 31 percent in 2006, greater than exports to Brazil, India and France combined.