The United States achieved a double-digit increase in its exports and imports of goods and services in 2022 compared with 2021, according to Census Bureau data.
U.S. exports of goods and services totaled $3.009.729 billion in 2022, up 17.7% year-over-year.
In contrast, U.S. imports of goods and services totaled $3.957.791 billion, an advance of 16.3% over 2021.
The U.S. agency in charge of promoting trade and investment is the National and Foreign Commercial Service, under the Department of Commerce‘s International Trade Administration.
Its mission is to promote exports of U.S. goods and services, especially those of SMEs; to promote and protect U.S. trade interests abroad; and to attract and retain investment in the U.S. economy.
Assistance to promote SME exports (for a fee) may include, for example, online and customized market research, brokerage services to match U.S. exporters with qualified buyers and distributors, due diligence on foreign parties, in-country promotion of products and services, and support for participation in selected trade shows held domestically or abroad.
Individual counseling as well as training (e.g., on required documentation and export controls) is also provided free of charge.
Imports
The U.S. Foreign and Foreign Commerce Service (US&FCS) has a network of international trade specialists in the offices of the 106 national Export Assistance Centers, as well as staff at U.S. embassies and consulates in 117 cities in more than 75 foreign markets.
As for U.S. imports of goods, these grew at an annual rate of 14.9% in 2022, to 3 trillion 277,314 million dollars, while those corresponding to services grew 23.7%, to 680,477 million dollars.
The WTO reports that in the United States, a specific website (www.trade.gov/export-solutions) has been created to provide training to regular exporters and potential new exporters on specific topics and tools, such as learning how to export, finding buyers and partners, researching foreign markets, resolving export issues and trade barriers, among others.
At year-over-year rates, U.S. exports of goods in 2022 rose 18.4%, to $2.085.561 billion, and its foreign sales of services increased 16.2%, to $924.168 billion.
