Ithy - Tracing the Trajectory: Unpacking US Goods Exports Since 1990

Highlights

Overall Growth Trend: The value of U.S. goods exports has generally increased significantly since 1990, surpassing $1.9 trillion in recent years, despite notable fluctuations.
Recent Dynamics (Goods vs. Services): While total U.S. exports (goods and services) reached over $3 trillion in 2023, the value of *goods* exports saw a slight decrease ($37.2 billion) compared to 2022, whereas services exports increased substantially ($70.6 billion).
Key Trading Partners: North American neighbors, Mexico and Canada, consistently rank as top destinations for U.S. exports, followed by major economies like China, the Netherlands, and Germany.

Historical Overview of U.S. Goods Exports (1990-Present)

The value of goods exported from the United States has followed a generally upward trajectory since 1990, reflecting the country's position as a major player in global trade. This growth, however, has not been linear, experiencing periods of acceleration, stagnation, and decline influenced by various global economic events, trade policies, technological advancements, and shifts in demand.

The early 1990s saw steady growth, crossing the $500 billion mark by the middle of the decade. The late 1990s and early 2000s continued this trend, pushing past $800 billion despite minor dips. The mid-to-late 2000s witnessed a significant surge, with goods exports exceeding $1 trillion for the first time before the global financial crisis caused a sharp contraction in 2009.

The recovery period saw exports rebound strongly, reaching new highs in the 2010s. The value climbed steadily, approaching $1.6 trillion by the middle of the decade. However, the COVID-19 pandemic led to a significant downturn in 2020, with exports of goods falling by over $200 billion, primarily due to decreased exports of capital goods and consumer goods.

Post-pandemic recovery saw a remarkable surge, particularly in 2021 and 2022, driven by pent-up global demand and economic stimulus measures. While total exports continued to rise into 2023, the specific value of goods exports experienced a slight pullback from the 2022 peak, highlighting the increasing importance of service exports in the overall U.S. trade balance.

Detailed Yearly Data

The following table outlines the estimated value of U.S. *goods* exports worldwide for each year from 1990 onwards, based on available data. Values are presented in billions of U.S. Dollars.

Year	Value of Goods Exports (Billions USD)	Notes
1990	$435.71
1991	$423.96
1992	$439.76
1993	$498.82
1994	$533.41
1995	$565.17
1996	$621.24
1997	$688.29
1998	$688.54
1999	$723.66
2000	$825.91
2001	$802.77
2002	$746.43
2003	$772.19
2004	$817.12
2005	$840.12
2006	$895.56
2007	$964.39
2008	$1,130.12
2009	$1,009.68	Significant dip due to global financial crisis.
2010	$1,200.00	Recovery period begins.
2011	$1,400.00
2012	$1,447.68
2013	$1,482.99
2014	$1,624.69
2015	$1,430.88
2016	$1,388.55
2017	$1,458.36
2018	$1,664.18
2019	$1,646.00
2020	$1,434.80	Decrease attributed to COVID-19 impacts, notably on capital and consumer goods. (Source C, D)
2021	$1,714.22	Estimated value for goods only. (Source D)
2022	$1,987.95	Estimated value for goods only (~$2.1 Trillion per Source C).
2023	$1,950.73	Calculated based on 2022 estimate and reported $37.2 billion decrease in goods exports. (Source D, based on A/C data)

Note: Figures for 1990-2020 are primarily based on data presented in Answer B, with adjustments for 2020 based on consensus between C and D. Figures for 2021-2023 are estimates for goods exports derived from information in Answers C and D, as some sources mix goods and services data for these years. Total exports (goods + services) were higher, e.g., $3,051.8 billion in 2023.

Recent Trends and Trade Dynamics

The most recent data points indicate continued high levels of export activity, though with shifting compositions. As of January 2025, monthly U.S. exports increased slightly to $269.82 billion from $266.52 billion in December 2024. The year 2023 saw total exports (goods and services) reach a record $3,051.8 billion. However, this overall increase masked a divergence: exports of services grew significantly (+$70.6 billion), while exports of goods experienced a slight decline (-$37.2 billion) compared to 2022.

Key Export Destinations and Products

Understanding where U.S. goods are going and which products are driving trade is crucial.

Top Export Destinations (December 2024 Data)

The primary destinations for U.S. exports remain concentrated among a few key partners. The radar chart below illustrates the value of exports to the top five destinations in December 2024.

These figures highlight the significant trade relationship the U.S. maintains with its North American neighbors, Mexico and Canada, which consistently rank as the top recipients of U.S. goods. China, despite trade tensions and recent decreases, remains a major export market, followed by key European partners like the Netherlands and Germany.

Factors Influencing Recent Export Changes

Specific events and product categories influenced the export figures between December 2023 and December 2024. A notable decrease in exports during this period was linked to reduced shipments to certain countries and lower demand for specific goods:

Country Decreases: China ($-2.18B or -18%), Switzerland ($-932M or -35.6%), United Kingdom ($-582M or -8.78%).
Product Decreases: Gold ($-1.78B or -57%), Cars ($-1.27B or -29.7%), Soybeans ($-998M or -31.4%).

These shifts underscore the dynamic nature of international trade, influenced by factors like geopolitical relations, commodity prices, and specific industry trends.

State-Level Contributions

Exports are not uniform across the United States. Certain states play an outsized role in generating export value, driven by their industrial base, agricultural output, and logistical advantages. The principal exporting states include:

Texas ($455B in 2022)
California ($183B in 2022)
New York ($91.3B in 2022)

Accessing Trade Data

For those interested in exploring U.S. export and import data in more detail, resources like USA Trade Online provide valuable tools. The following video offers a tutorial on how to access this information:

Data Considerations

It's important to note potential nuances in trade data reporting. For instance, delays in the United States - Canada Data Exchange have affected the compilation of statistics for U.S. exports to Canada from September 2024 through January 2025. Current estimates for this period are derived from Canadian import data and include an estimate for the filing backlog, primarily categorized under "Other goods." These figures are scheduled to be revised with actual transaction data in June 2025.

Frequently Asked Questions (FAQ)

What caused the major dip in U.S. goods exports around 2009? +

Why did goods exports decrease in 2020? +

What's the difference between 'goods' and 'services' exports? Why did goods decrease in 2023 while total exports rose? +

Where does this export data generally come from? +

Tracing the Trajectory: Unpacking US Goods Exports Since 1990

A year-by-year look at the value of goods exported from the USA worldwide from 1990 to the present.