America's Biggest Exports: A Closer Look at the US Export Landscape

Introduction: The Changing Face of US Exports

As we delve into the world of international trade, it's crucial to understand the dynamics of America's biggest exports and the largest US export companies. The United States, as the second-largest exporter globally after China, plays a pivotal role in shaping the global trade landscape. In this comprehensive analysis, we'll explore recent trends, key players, and the impact of ongoing trade tensions on America's export sector.

Let's start with some eye-opening facts from recent data:

• The number of US exporters decreased to 284,168 in 2017, a 1.09% drop from 2016.
• Despite fewer exporters, the total value of exported goods increased slightly from $1.29 trillion to $1.292 trillion.
• Small and medium-sized enterprises (SMEs) accounted for 97.5% of exporters, contributing $461.3 billion in export goods - a 7.48% increase from 2016.
• One-third of SME exporters were from the wholesale sector, while a quarter came from manufacturing.

America's Largest Export Companies: The Top Players

To truly understand America's biggest exports, we need to look at the companies driving these numbers. In 2017, the landscape of top US exporters saw some interesting shifts. Let's examine the top five product-exporting companies and their performance:

1. Apple: The Tech Giant Leading the Pack

Apple claimed the top spot in 2017, narrowly surpassing ExxonMobil. Here's what you need to know:

• Main export: Computer hardware
• Export sales: $331.1 billion
• Year-over-year growth: 12.9% increase from 2016

Apple's dominance in the global tech market is evident from these additional facts:

• From 2012 to mid-2018, Apple's iPad held an average 31% market share of global tablet shipments.
• In 2017 alone, 61 million iPhones were assembled and shipped from China to the US.
• The iPhone 7 accounted for $15.7 billion of the US trade deficit with China, or 4.4% of the total.
• Over the last decade, Apple shipped an astounding 373 million iPhones.

2. ExxonMobil: Oil and Gas Powerhouse

Despite being edged out by Apple, ExxonMobil remains a crucial player in US exports:

• Main export: Oil and gas
• Export sales: $330.3 billion
• Year-over-year change: 1.9% decrease from 2016

3. Chevron: Another Energy Giant

Chevron, another major player in the oil and gas sector, rounds out the top three:

• Main export: Oil and gas
• Export sales: $260.1 billion
• Year-over-year change: 2.3% decrease from 2016

4. Ford Motor Company: Driving American Exports

The automotive industry plays a significant role in US exports, with Ford leading the charge:

• Main export: Cars and trucks
• Export sales: $238 billion
• Year-over-year growth: 5.8% increase from 2016

Ford's global reach is impressive:

• In 2016, Ford produced approximately 6.4 million vehicles worldwide - that's over 17,500 per day or 730 per hour.
• In 2013, Ford shipped more than 380,000 vehicles from the United States - more than 1,000 a day.

5. General Motors: Accelerating Export Growth

General Motors completes the top five, showing the strongest growth among the leaders:

• Main export: Cars and trucks
• Export sales: $221.7 billion
• Year-over-year growth: 14% increase from 2016

General Motors' global operations are truly staggering:

• GM manages 2,300 containers transporting parts worldwide every day.
• China is General Motors' biggest market.
• The company saves approximately $10 million annually in shipping fees by having third-party suppliers located in-house at their Orion complex.

The Impact of Trade Tensions on America's Biggest Exports

The ongoing trade war between the United States and China has cast a shadow over the export landscape, affecting some of America's largest exporters. Let's examine how this is impacting key players in different sectors.

Automotive Industry: Ford and General Motors Face Headwinds

The automotive sector, represented by Ford and General Motors in our top five, is feeling the heat from the trade war:

• The US government has imposed a 25% tax on China-imported autos.
• China's tariffs on US-imported vehicles have reached 40%.
• Analysts predict the automotive industry will be the worst-hit from tariffs applied by both sides.

In response to these challenges, both companies are taking strategic actions:

• General Motors is seeking an exemption for its China-made Buick SUV from the tariffs.
• Ford has cancelled plans to import the Ford Active crossover from China, citing the "negative financial impact" of the tariffs.

Tech Sector: Apple's China Operations Under Scrutiny

As the leading US exporter, Apple is closely monitoring the trade war developments, especially as the US threatens more tariffs. Here's why Apple is particularly vulnerable:

• Apple is considered one of the most successful US tech firms in China.
• Nearly one-fifth of Apple's revenues come from China.
• Analysts warn that Apple is the biggest tech company at risk from the trade war.
• An escalation could severely damage Apple's operations in China.
• Estimates suggest Apple's valuation could fall by nearly 5% if iPhone sales in China were to drop by 10 million units in the 2019 financial year.

The Role of SMEs in America's Export Landscape

While the largest US export companies grab headlines, it's crucial to recognize the significant contribution of small and medium-sized enterprises (SMEs) to America's export success:

• SMEs represent 97.5% of all US exporters.
• They contributed $461.3 billion in export goods in 2017, a 7.48% increase from 2016.
• One-third of SME exporters are from the wholesale sector.
• A quarter of SME exporters come from the manufacturing sector.

This diverse base of smaller exporters plays a vital role in maintaining the resilience and adaptability of the US export economy.

Looking Ahead: The Future of US Exports

As we consider the future of America's biggest exports and largest US export companies, several factors will likely shape the landscape:

1. Trade Relations: The resolution or escalation of current trade tensions, particularly with China, will significantly impact major exporters like Apple, Ford, and General Motors.
2. Technological Advancements: Continued innovation in sectors like technology and automotive will influence export competitiveness.
3. Energy Markets: Fluctuations in global energy demand and prices will affect oil and gas exporters like ExxonMobil and Chevron.
4. SME Growth: The ability of SMEs to leverage Digital Platforms and expand their global reach could reshape the export landscape.
5. Global Economic Conditions: Overall global economic health and demand for US goods will play a crucial role in export growth.

Conclusion: Navigating the Complex World of US Exports

America's biggest exports and the largest US export companies form a complex and dynamic ecosystem that is crucial to the nation's economic health. From tech giants like Apple to automotive leaders Ford and General Motors, and energy powerhouses ExxonMobil and Chevron, these companies drive significant value in US exports.

However, the export landscape is not just about these industry titans. The vital role played by SMEs, accounting for 97.5% of all exporters, underscores the diverse and resilient nature of the US export economy.

As trade tensions continue and global markets evolve, it's clear that adaptability and innovation will be key to maintaining and growing America's export strength. Digital Platforms and Digital Logistics Solutions will play an increasingly important role in helping businesses of all sizes navigate these challenges and seize new opportunities in the global marketplace.

At FreightAmigo, we recognize the critical importance of efficient, reliable logistics in supporting America's export success. Our Digital Logistics Platform is designed to help exporters of all sizes streamline their operations, reduce costs, and expand their global reach. By leveraging cutting-edge technology and our comprehensive suite of services, we're committed to supporting the continued growth and success of US exports in an ever-changing global trade landscape.