https://sputnikglobe.com/20241013/gas-overtakes-microchips-in-top-5-earners-of-us-exports-under-biden-1120531145.html
US Exports Shift: Gas Replaces Microchips, Oil Dominates Imports Under Biden
US Exports Shift: Gas Replaces Microchips, Oil Dominates Imports Under Biden
Sputnik International
During the presidency of Joe Biden, gas will replace microchips in the top 5 main earners in US exports, and oil has appeared in the top 5 main imports, despite the fact that the United States itself is a major supplier of it to the world market, Sputnik calculated after studying data from the US statistical service.
2024-10-13T09:15+0000
2024-10-13T09:15+0000
2024-10-13T09:16+0000
economy
us
joe biden
donald trump
kamala harris
democratic party
republican party
export
gas
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Thus, the main US export goods for the first eight months of this year were oil with sales worth $82.8 billion and civilian aircraft and their parts worth $81.1 billion. However, according to Sputnik's calculations, the rate of sales growth will allow aircraft and parts to overtake "black gold" by the end of this year. The top five will also include petroleum products ($121 billion), passenger cars ($60.7 billion) and gas ($60 billion). Following Donald Trump's presidency, civil aircraft were also in the lead ($72 billion), petroleum products were in second place ($57.8 billion), followed by oil ($49.8 billion), electronic integrated circuits or microchips ($46.4 billion), displaced from the top five by gas in 2024, and passenger cars ($46.3 billion). In imports for January-August, the main goods were passenger cars and oil, as well as tablets and laptops. According to the agency's calculations, these goods will retain their leadership by the end of 2024. US purchases of passenger cars will reach $226.6 billion, oil imports will be worth $178.4 billion, and tablets and laptops $137.1 billion. The top 5 will also include vaccines and serums ($112.6 billion) and smartphones ($111.4 billion). The United States began actively purchasing oil abroad under Biden, despite the fact that the country is the world's largest oil producer. Under Trump, the United States imported cars, tablets and laptops, smartphones, vaccines and special equipment, which dropped out of the top five in 2024. In total, by the end of the current year, the United States will export goods worth $2.08 trillion, of which civilian aircraft and oil will account for 6.2% each, petroleum products — 5.8%, passenger cars and gas — 2.9%. US imports will amount to $3.22 trillion, of which 7% will be cars, 5.5% — oil, 4.3% — tablets and laptops, 3.5% each — vaccines and smartphones. The total trade volumes for Biden's entire presidential term will amount to $42.07 trillion: $10.44 trillion in 2021, $10.48 trillion in 2022, $10.62 trillion in 2023, and $10.53 trillion in 2024. Global trade is one of the hot topics in the upcoming US elections, which will be held on November 5. The Republican Party will be represented by former President Donald Trump, who advocates strong protectionist measures in trade with other countries, and the Democratic Party will be represented by Vice President Kamala Harris, who takes a less tough position on this issue.
https://sputnikglobe.com/20240820/gt-voice-us-tech-export-controls-backfire-drive-companies-into-death-spiral-1119842485.html
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gas overtakes microchips, us statistical service, us exports
gas overtakes microchips, us statistical service, us exports
US Exports Shift: Gas Replaces Microchips, Oil Dominates Imports Under Biden
09:15 GMT 13.10.2024 (Updated: 09:16 GMT 13.10.2024) MOSCOW (Sputnik) - During the presidency of Joe Biden, gas will replace microchips in the top 5 main earners in US exports, and oil has appeared in the top 5 main imports, despite the fact that the United States itself is a major supplier of it to the world market, Sputnik calculated after studying data from the US statistical service.
Thus, the main US export goods for the first eight months of this year were oil with sales worth $82.8 billion and civilian aircraft and their parts worth $81.1 billion. However, according to Sputnik's calculations, the rate of sales growth will allow aircraft and parts to overtake "black gold" by the end of this year.
The top five will also include petroleum products ($121 billion), passenger cars ($60.7 billion) and gas ($60 billion).
Following Donald Trump's presidency, civil aircraft were also in the lead ($72 billion), petroleum products were in second place ($57.8 billion), followed by oil ($49.8 billion), electronic integrated circuits or microchips ($46.4 billion), displaced from the top five by gas in 2024, and passenger cars ($46.3 billion).
In imports for January-August, the main goods were passenger cars and oil, as well as tablets and laptops. According to the agency's calculations, these goods will retain their leadership by the end of 2024. US purchases of passenger cars will reach $226.6 billion, oil imports will be worth $178.4 billion, and tablets and laptops $137.1 billion. The top 5 will also include vaccines and serums ($112.6 billion) and smartphones ($111.4 billion).
The
United States began actively purchasing oil abroad under Biden, despite the fact that the country is the world's largest oil producer. Under Trump, the United States imported cars, tablets and laptops, smartphones, vaccines and special equipment, which dropped out of the top five in 2024.
In total, by the end of the current year, the United States will export goods worth $2.08 trillion, of which civilian aircraft and oil will account for 6.2% each, petroleum products — 5.8%, passenger cars and gas — 2.9%. US imports will amount to $3.22 trillion, of which 7% will be cars, 5.5% — oil, 4.3% — tablets and laptops, 3.5% each — vaccines and smartphones.
The total trade volumes for Biden's entire presidential term will amount to $42.07 trillion: $10.44 trillion in 2021, $10.48 trillion in 2022, $10.62 trillion in 2023, and $10.53 trillion in 2024.
Global trade is one of the hot topics in the upcoming US elections, which will be held on November 5. The Republican Party will be represented by former President Donald Trump, who advocates strong protectionist measures in trade with other countries, and the Democratic Party will be represented by Vice President Kamala Harris, who takes a less tough position on this issue.
