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USA Import Trade Data Customs Shipment Details

The US economy is one of the largest economies in the world. The US economy 20.58 trillion dollars in 2018 nominal GDP and is expected to reach 24.9 trillion dollars in 2023.

It is considered the most technologically powerful economy in the world. The country has a superior infrastructure, top of the line technology, and abundant natural resources. In 2019 US foreign trade was 5.6 trillion dollars. US exports were 2.5 trillion dollars and US import was 3.1 trillion for goods and services. The USA is the world's largest importer. The 2019 US trade balance is negative with a deficit of 617 billion dollars.

US Importers data is collected at all points of entry of goods into the US. This includes sea-ports, airports, and border crossing. This data is compiled from bills of lading and shipping manifests collected from US custom posts at various entry points into the US. Typically the bill of Lading and shipping manifests give us the following data:-

Name of importer
Goods imported
Region/ Country from where the goods are imported
Value of goods imported
Port of Origin from where the goods are shipped
Port of destination where goods are received
Port of transshipment if any
Name of the exporter and the country of origin

The import data is a vital marketing tool for importers/Importers use the import data for the following purposes:-

Identify the latest market trends. Importers can check the consumption patterns. Importers can study the data to predict changes in customer’s preferences and tastes.
The importers can study international rates. Identify other countries where they can source their products. It helps importers find the best deal for the commodity.
The import and export product is highly volatile can change due to international events such as wars and sanctions. In the case of international sanctions against any country. The importer can quickly identify alternative sources to procure the product.
Identify the name of the exporter in the database as a contact point to procure their product.
Get information about applicable custom duties and other international duties/ on their product.
Get marketing information about their competitors.
Use the information to look for other commodities they can trade with.

Logistic companies can use the information to contact importers or importer to provide logistical support. Banks can use the information to contact new clients. Bank offers such as a letter of credit and bank guarantees to importers. These banking facilities are vital to carry out international trade.

Raw materials used for production are often imported. Manufacturers can use the data to contact the exporter directly bypassing the importer. The information can be used for negotiations to get the best deals from your importer.

Import data is very important to any country to formulate policies about the economy, physical infrastructure, fiscal and monetary policy, foreign affairs & diplomacy, trade and tariff discussions, and many others. The import data is the basis of several policy decisions taken by the US Government. It helps the government in the following manner:-

Identification of major goods and commodities into the US. With the help of this data will be able to identify major goods and commodities imported into the US. The import bill of different commodities can be calculated.
Identify the major trading partners. This helps the government in trade negotiations and leverage favorable terms for both the government and private entities.
Identify the quantum of imports from a particular country or region and the goods imported from these regions.
Identify trends at different time intervals imports of certain commodities or goods.
Identify the duties collected from a variety of goods and hence deduce the contribution to the exchequer from different goods.
Identify the major importers for various goods or commodities.
Identify the volume of imports at different ports, airports or border crossings.
It gives the government feedback on their industrial policies.

The US import data the total imports of goods 2 trillion dollars. Capital goods along with computers and telecommunications were the largest contributor to imported goods by the US, accounting for 27% of total imported products. While 654 billion dollars of consumer goods were imported into the US. The major products imported by the USA are:-

Machinery ( 379 billion dollars)
Electrical Machinery( 352.3 billion dollars)
Automobiles & Vehicles (310.1 billion dollars)
Minerals, oil & fuel ( 210.1 billion dollars)
Pharmaceuticals (128.2 billion dollars)
Medical Equipment & Supplies (96.9 billion dollars)
Furniture, lighting & signs (67.2 billion dollars)
Plastics (61.9 billion dollars)
Gems & jewelry (58.1 billion dollars)
Organic Chemicals (54.5 billion dollars)

The data revealed the pharmaceutical imports was the fastest growing sector in imports in 2019 and increased by 10% from 2018. The medical apparatus imports grew at 3.7%. While vehicle imports grew at 1.2%. Meanwhile, imports of mineral, oil & fuel fell by 13.1% when compared to 2018.

If we analyze the US import data 43.4% of total import providers were from Asia. North American trade partners accounted for 26.8% of the total imports and 23.3% of imports were from Europe.

The Top importing partners of USA are:-

China (452.2 billion dollars)
Mexico (358.1 billion dollars)
Canada (319.7 billion dollars)
Japan (143.6 billion dollars)
Germany (127.5 billion dollars)
South Korea (77.5 billion dollars)
Vietnam (66.7 billion dollars)
United Kingdom (63.2 billion dollars)
Ireland (61.8 billion dollars)
India (57.7 billion dollars)

The top 100 US importers and exporters are published every year is based on customs statistics. The figures expressed are in TEU (Twenty-Foot Equivalent Unit) and is used to measure a ship’s cargo-carrying capacity. A bulk of the commodities imported is used in the retail sector. The major importers in US company-wise are:-

Walmart ( 864800 TEU)
Target (590300 TEU)
Home Depot (388000 TEU)
Lowe's ( 287500 TEU)
Dole Foods ( 220200 TEU)
Samsung America (184800 TEU)
Family Dollar / Dollar Tree (168400 TEU)
LG Group (161600 TEU)
Philips Electronics (142900 TEU)
IKEA International (120500 TEU)

There are 360 commercial ports in the United States. US ports are the busiest and biggest ports in the world. These ports are ocean-going carbo, barges, ferries, and recreation boats. There 150 ports deep seaports located along the Atlantic and Pacific oceans, the five Great Lakes, the Gulf of Mexico, Alaska, Hawaii, Puerto Rico, Guam, and the US Virgin Islands. The busiest ports in the US in terms of TEUs or (Twenty-Foot equivalent unit) are:-

Port of Los Angeles ( 50,39,363 TEU)
Port of Long Beach (43,64,771 TEU)
Port of New York & New Jersy ( 41,96,372 TEU)
Port of Savannah (22,23,628 TEU)
Port of Houston (18,11,737 TEU)
Port of Seattle ( 15,67,803 TEU)
Port of Norfolk (13,12,476 TEU)
Port of Tacoma ( 12,17,316 TEU)
Port of Charleston (12,10,214 TEU)
Port of Oakland (10,70,642 TEU)

Seair Exim Solutions is a leading export import data provider company. It offers updated, 100% genuine, and reliable global trade data of more than 80 countries of the world such as India, USA, Russia, Kenya, Mexico, Indonesia, Sri Lanka, Vietnam, Pakistan etc. Our major services are USA imports data, Indian import data, India export data, import data Indonesia, Vietnam export data, Russia customs data, Mexico trade data, Kenya shipment data etc. You can find various free resources related to import export business like HS codes list, HS code search, HS code Finder, sac code list, sac code finder, custom duty in India, custom duty calculator, foreign ports, trading partners of India, GST rates in India, GST rates list and many more on our website –seair.co.in.