Finance exercise | Business & Finance homework help
In 2014, the top five countries that the United States exported to were Canada, Mexico, China, Japan, and Germany. These countries combined accounted for over 53% of total exports from the US in that year. Canada was by far the largest recipient of exports with a value totaling almost 250 billion USD while Mexico followed shortly behind with nearly 226 billion USD worth of imports. China ranked third among export destinations with a total of 122 billion USD while Japan and Germany rounded out the top five with values reaching 83 billion and 82 billion USD respectively.
The same five countries also comprised the majority of imports into the US in 2014. The leading importer was again China with a total value close to 427 billion USD followed by Mexico at 232 billion USD and Canada at 233 billions. Japan had a slightly lower import value than its export figure at 75 million dollars while Germany had an even higher ratio of imports compared to its exports totaling 111billion in 2014. This indicates that overall ,the US has a positive trade balance when dealing with these five countries as it exports more than they import from them on average each year.