![]() The US product category trade deficit specific to cars was -$110.5 billion for 2022. Yet the reality is that American revenues from its exported cars equal just over a third (34.4%) of the $148.1 billion that the US spent importing cars from foreign suppliers. In 2022, the United States sold $57.9 billion worth of cars to its trade partners. United States International Trade Deficits for Cars by CountryĪmerica is a major producer and seller of cars on international markets. Note that Germany is famous for well-established car brands including Volkswagen, Mercedes-Benz, Audi, BMW and Porsche.ĭecliners among the listed top US car suppliers were Austria (down -19.7% from 2021) and the United Kingdom (down -6.3%). The fastest growers among these top automotive suppliers from 2021 to 2022 were South Africa (up 72.6%), Belgium (up 41.8%), mainland China (up 41.4%), Finland (up 39.6%), Slovakia (up 28.9%), then Germany (up 27.2%). Mexico: US$36.5 billion (21.7% of total US imported cars).Countries Exporting Cars to AmericaĪmerica’s top 15 suppliers of imported cars in 2022 attracted 98.6% of US car purchases from foreign markets, with about three-fifths (57.3%) of the overall value coming from Mexico, Japan and Canada. Tinier continental percentages for US imports of cars belong to Africa (0.8%), Latin America (0.01%) excluding Mexico, and Oceania (0.001%) Australia and New Zealand only. The 27 European Union countries satisfied 22.4% of US demand for imported cars. Germany accounted for over one half of that percentage. The United States bought another 26.2% worth of cars imported during 2022 from Europe. Where Does the United States Spend Most On Imported Cars?Īmong suppliers in the latest reporting period, American importers spent the most on cars originating from Mexico (21.7% of US spending on imported cars), Japan (19.9%), Canada (15.7%), South Korea (13.2%) and Germany (11.6%).Īpplying a continental lens, 37.4% of total US spending on imported cars in 2022 went to its neighboring North American trading partners Mexico and Canada, ahead of suppliers in Asia at 35.6%). That percentage exceeds the average 3.1% for US imported cars powered by electric motor one year earlier in 2021. Imports of electric cars cost $5.8 billion or 3.4% of the overall spend on imported cars. Year over year, America’s spending on imported cars increased by 13.7% from $148 billion in 2021. The overall value for all US purchases of imported cars in 2022 declined by -5.7% compared to $178.5 billion in spending five years earlier during 2018. Ferrari F12 BerlinettaIn 2022, the United States of America imported US$168.3 billion worth of cars originating from a total 78 countries or territories.
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