The world's second largest commodity trading country, the United States in 2021 import and export commodity value has been officially announced - after calendar and seasonal adjustment, the amount of foreign export goods is 1761.967 billion US dollars, compared with 1428.798 billion US dollars in the previous year, a significant increase of 23.32%.
The amount of goods imported from abroad reached 2,852.649 billion US dollars in 2021, compared with 2,350.825 billion US dollars in the previous year, an increase of 21.35% year-on-year. As both exports and imports of goods increased by more than 20 percent, the total amount of U.S. foreign merchandise trade also hit a record high.
The result given by the US Department of Commerce is: $4,614.616 billion (about 4.615 trillion), compared to $3,779.623 billion in the previous year, up 22.09% year-on-year. This high growth rate is partly due to a high growth rate of 5.7% in the US economy in 2021, setting a new record in recent decades.
This strong development, coupled with the "low base effect" in 2020, has led to the rapid growth of U.S. foreign merchandise trade. On the other hand, due to the over-issuance of the US dollar, the appreciation of many currencies has brought about the impact of soaring commodity prices and imported inflation.
It is worth noting that while the amount of U.S. foreign merchandise trade hit a record high, the trade deficit also hit a new high - breaking through $1 trillion in 2021 (specifically $1,090.682 billion), an increase of 18.29% compared with $922.026 billion in 2020.
In 2021, mainland commodity trade will remain the highest in the world
In 2021, the United States has achieved rapid development in foreign merchandise trade, compared with the mainland, which is more prominent: the amount of imports and exports of goods in US dollars is as high as 6.05 trillion US dollars, an increase of 30% year-on-year - compared with the 4.615 trillion US dollars in the United States, the advantage has expanded to 1.435 trillion US dollars.
Among them, the amount of mainland foreign exports of goods in 2021 is about 3.364 trillion US dollars, an increase of 29.9%; the amount of imported goods in 2021 reached about 2.688 trillion US dollars, an increase of 30.1% year-on-year; the trade surplus achieved in 2021 exceeded 670 billion US dollars.
In other words, in 2021, the mainland's position as the world's largest commodity trading country has been further consolidated. In particular, the export of mechanical and electrical products and the export of medical supplies related to the fight against the epidemic have increased significantly, becoming the largest contributor to the sustainable development of global trade.
In 2021, trade in services, the United States is still the highest in the world
Looking at commodity trade, the mainland's advantage is getting bigger and bigger, but if you look at service trade, the advantage is still on the US side - the total amount of US service trade in 2021 rose to 1301.591 billion US dollars, compared with 1165.944 billion US dollars in the previous year. This increased by 11.63% year-on-year.
Among them, the amount of export services is about 766.57 billion US dollars, the import service is 535.021 billion US dollars, and the surplus achieved by service trade in 2021 exceeds 230 billion US dollars (as shown in the chart below). Whether it is the total amount of trade in services or the surplus of trade in services, the United States leads the world.
In contrast, the amount of service trade on the mainland in 2021 is 5,298.27 billion yuan, equivalent to about 820 billion US dollars, which is about 63% of the amount of US service trade. Moreover, the overall deficit of the mainland's foreign trade in services was 211.27 billion yuan (more than 30 billion US dollars).
Overall, the mainland's manufacturing advantages are more distinct - with the world's most complete industrial chain, it can manufacture almost any kind of commodity needed by other countries, and the growth potential is still not small. While transferring a large number of manufacturing industries, the United States actively seizes the service fields of finance, science and technology, art, culture, education, and branding, and its achievements will also be outstanding. This article is organized and written by [Nansheng], please do not reprint or plagiarize without authorization!