Is America an industrial powerhouse? The impression I get is that America has deindustrialized and outsourced everything and is now heavily dependent on international supply chains.
Only China has a larger industrial capacity than the US. The difference varies year by year, but on average the US is making somewhere around 2/3 to 3/4 of what China does in dollar value. The US is not the global heart of industry that it once was, but it still produces huge amounts of raw materials, processed materials, and advanced technology. Same sort of ratio holds for all net exports, where the US is only second to China (but they are exporting very different stuff).
The top exports of United States are Refined Petroleum ($83.3B), Petroleum Gas ($70.9B), Crude Petroleum ($67.6B), Cars ($55.4B), and Integrated Circuits ($51.3B), exporting mostly to Canada ($259B), Mexico ($247B), China ($151B), Japan ($71.8B), and South Korea ($66.4B). In 2021, United States was the world’s biggest exporter of Refined Petroleum ($83.3B), Petroleum Gas ($70.9B), Medical Instruments ($30.2B), Gas Turbines ($30B), and Corn ($18.8B)
The top imports of United States are Cars ($139B), Crude Petroleum ($120B), Computers ($102B), Broadcasting Equipment ($101B), and Packaged Medicaments ($86.3B), importing mostly from China ($530B), Mexico ($361B), Canada ($355B), Germany ($135B), and Japan ($128B). In 2021, United States was the world’s biggest importer of Cars ($139B), Computers ($102B), Broadcasting Equipment ($101B), Packaged Medicaments ($86.3B), and Motor vehicles; parts and accessories (8701 to 8705) ($77.7B)
Is America an industrial powerhouse? The impression I get is that America has deindustrialized and outsourced everything and is now heavily dependent on international supply chains.
Only China has a larger industrial capacity than the US. The difference varies year by year, but on average the US is making somewhere around 2/3 to 3/4 of what China does in dollar value. The US is not the global heart of industry that it once was, but it still produces huge amounts of raw materials, processed materials, and advanced technology. Same sort of ratio holds for all net exports, where the US is only second to China (but they are exporting very different stuff).
Good breakdown of what the US is producing, exporting, and importing: https://oec.world/en/profile/country/usa/
We as Marxists should not delude ourselves into thinking the US has nothing happening economically. Most people are just excluded from it.
Thanks for the link!
*interesting stuff:
It’s interesting how much overlap there is in top exports and imports.