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TPP Countries Trade Overview | U.S. Imports and Exports

Published: 27 Feb 2015 00:10:39 PST
US Imports from TPP Countries Pie ChartThe Trans-Pacific Partnership (TPP) is a proposed trade agreement that’s currently in the planning stages between 12 countries: the United States and Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. The TPP has been undergoing scrutiny lately for its lack of transparency and details about what is actually included in the proposed agreement (read more here).

According to ustr.gov/tpp, the goal of the TPP agreement is to boost U.S. exports to some of the fastest growing economies in the world, which currently account for 40 percent of the total global GDP.

In 2014 (January-November), the United States’ trade with these countries amounted to $808 billion in imports (38 percent of total U.S. imports) and $669 billion in exports (45 percent of total U.S. exports). Total U.S. imports from TPP countries grew 3 percent from 2013 to 2014 (January-November) and exports were up 4 percent.

Below is the total U.S. imports and exports for TPP nations in 2014 compared to 2013.                                                             
Country 2014 Imports (Jan-Nov) % Change 2013 YTD 2014 Exports (Jan-Nov) % Change 2013 YTD
Canada $317,408,121,032 4% $287,719,531,699 4%
Mexico $270,295,917,977 5% $221,437,036,062 6%
Japan $122,459,147,439 -4% $61,185,661,648 2%
Vietnam $27,944,512,785 24% $5,134,590,835 13%
Malaysia $27,562,311,828 11% $11,914,477,822 -1%
Singapore $15,148,324,381 -9% $28,067,343,905 -1%
Australia $9,692,379,578 14% $24,679,763,554 4%
Chile $8,715,740,492 -9% $15,359,661,131 -6%
Peru $5,527,336,278 -26% $9,246,363,764 1%
New Zealand $3,579,735,938 12% $3,812,109,743 29%
Brunei $31,294,570 93% $473,022,726 -12%
TOTAL $808,364,822,298 3% $669,029,562,889 4%


The hefty import spike from Brunei in 2014 is attributed to methanol. The United States imported over $16 million in methanol so far in 2014 compared to $6 million last year. Also notable, was the large leap in U.S. exports to New Zealand which was due to a 132 percent increase in civilian aircraft, engines, equipment, and parts. New Zealand imported over $1 billion in U.S.-aircraft parts in 2014. Although, most of the U.S. export growth to these nations can be attributed to natural gas and petroleum products which nearly doubled from 2013 to 2014, a shift from $9 to over $16 billion.

Below is a list of the top 10 exported products to TPP nations.                                                                                   
NAICS Product Code 2014 Total Value (Jan-Nov) % Change 2013 YTD
324110 - Petroleum Refinery Products $43,392,754,664 -1%
33641X - Civilian Aircraft, Engines, Equipment, and Parts $24,311,269,971 8%
990000 - Spacial Classication Provisions $20,410,194,938 -2%
336111 - Automobiles and Light Duty Motor Vehicles, Including Chassis $18,925,533,926 1%
211111 - Crude Petroleum and Natural Gas $16,907,328,100 74%
334118 - Computer Terminals and other Computer Equipment $16,879,784,645 7%
334413 - Semiconductors and Related Devices $16,012,373,555 1%
325211 - Plastics Materials and Resins $15,020,501,564 2%
334220 - Radio and Television Broadcasting and Wireless Communications Equipment $13,030,246,741 14%
325199 - All Other Basic Organic Chemicals $12,828,862,980 1%
All Others $471,310,711,805 -
TOTAL $669,029,562,889 4%


The U.S. Trade Representative website has not published whether there will be any import tax or duty breaks on trade with TPP countries. Their total calculated import duties for 2014 (January-November) amounted to nearly $5.1 billion, 84 percent of this is attributed to imports from Japan and Vietnam.

Posted on 1/29/2015 9:27 AM. Posted in General, News, By Cori Rogers.

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