Top US Exports 2023 (2024)

In 2023, the United States of America shipped $2.019 trillion worth of exported products around the globe.

That dollar amount results from a 22.9% increase from $1.643 trillion five years earlier in 2019.

Year over year, the overall value of goods exported from the U.S. dropped by -2.1% compared to $2.063 trillion for 2022.

America’s 5 leading export products by value in 2023 were crude oil, civilian aircraft including individually sold aircraft parts, refined petroleum oils, petroleum gases and cars. In aggregate, those major exported goods accounted for 16.3% of overall exports sold by the United States. That relatively low percentage suggests a diversified range of exported goods, albeit 3 of America’s most valuable exports are energy-related commodities.

The latest available country-specific data shows that 63.8% of products exported from the US were bought by importers in: Canada (17.5% of the American total), Mexico (16%), mainland China (7.3%), Netherlands (4.1%), Germany (3.8%), Japan (also 3.8%), United Kingdom (3.7%), South Korea (3.2%), France (2.2%) and Brazil (also 2.2%).

From a continental perspective, 33.5% of exports by value from the United States was delivered to fellow North American trade partners Canada and Mexico. A smaller 29.6% was sold to Asian importers with another 23.8% worth of goods going to Europe. In contrast, American exporters sold 9.8% to Latin America excluding Mexico but including the Caribbean.

Lesser percentages went to buyers in Oceania (1.9%) led by Australia and New Zealand, and Africa (1.4%).

Given America’s population of 335.8 million people at October 2023, its total $2.019 trillion in export sales during 2023 translates to roughly $6,000 for every U.S. resident. That metric compares with an average $6,200 for 2022.

America’s top 10 exports equal 71.1% of the overall value of U.S. global shipments.

Aircraft and spacecraft was the fastest grower among the top 10 export categories year over year, up by 21.4% since 2022.

In second place for improving U.S. export sales was the vehicles product category which rose 13.3%.

United States’ shipments of pharmaceuticals posted the third-fastest gain in value, up by 8.2% year over year.

Double-digit percentage declines among America’s top 10 export categories were recorded for gems and precious metals (down -17.1% from 2022) and mineral fuels including oil (down -14.6%).

Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section America’s Most Valuable Export Products: A Detailed View further down near the bottom of this article.

The following types of American product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

America incurred a -US$1.153 trillion trade deficit for 2023, decreasing by -12.2% from the -$1.313 trillion in red ink for all products one year earlier in 2022.

Below are product categories from the United States that are negative net exports or product trade balance deficits for 2022. These negative net exports reveal product categories where foreign spending on American goods trail U.S. importer spending on foreign products.

United States has highly negative net exports and therefore deep international trade deficits for electronics-related equipment, notably consumer electronics.

The resulting cashflow deficiency clearly exemplifies U.S. competitive disadvantages in the international electronics market, but also represents a key opportunity for United States to improve its position in the global economy through focused innovations and creative employment initiatives in the home country.

These 25 exported goods were worth a subtotal of US$713.4 billion or over one-third (35.3%) by value for all products exported from the U.S. during 2023.

In macroeconomic terms, the United States’ total exported goods represent 7.5% of its overall Gross Domestic Product ($26.95 trillion valued in Purchasing Power Parity U.S. dollars). That 7.5% for exports to overall GDP in PPP for 2022 compares to 8.2% for 2022. Those percentages suggest a relatively decreasing reliance on products sold on international markets for America’s total economic performance, at least in the short term.

Another key indicator of a country’s economic performance is its jobless rate. America’s unemployment rate published by the International Monetary Fund was 3.569% at October 2023, down from an average 3.642% jobless rate one year earlier.

Related Read: United States Top 100 Consumer Product Exports

See also United States Top 10 Imports, America’s Top Trading Partners, Top United States Trade Balances, America’s Top 20 Export States and United States Top 10 Major Export Companies and World’s Top Food Exports Special Data Report

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on March 13, 2024

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 13, 2024

International Trade Centre, Trade Map. Accessed on March 13, 2024

Investopedia, Net Exports Definition. Accessed on March 13, 2024

Richest Country Reports, Key Statistics Powering Global Wealth. Accessed on March 13, 2024

SHIPHUB, HS Code for Food. Accessed on March 13, 2024

USA Trade Online, Official Source of Trade Statistics. Accessed on March 13, 2024

Wikipedia, List of Companies of United States. Accessed on March 13, 2024