The USA is the 2ndlargest export economy in the world after China and the 5thmost complex economy. The US economy which went through an economic downturn after the financial crisis of 2007–08 and though the recovery started in late 2009 it is expected that the economy will continue to grow. The USA exports humungous amounts of product not only by quantity but also by value in US$. These list of products exported by the USA includes IT hardware & software; machines, engines, pumps; electronic equipment; electrical products; aircraft, engine, spacecraft; automobile; oil& gas; medical, technical equipment; plastics products; gems & jewelry; precious metals; pharmaceutical products; chemicals; weapons &ammunition.
Biggest Export Companies of the USA
The biggest exporter companies from the US traverse all types of industries from electronics and software to beverage and pharmaceuticals. The biggest exporters from the USA include Apple Inc., ); Exxon Mobil, Schlumberger, Chevron Corporation, ConocoPhillips, Occidental Petroleum (oil, gas); Microsoft (IT/hardware); GE (electrical products);Johnson & Johnson (medical equipment, supplies); Procter & Gamble (household, personal care items); Pfizer, Merck & Co, AbbVie, Eli Lilly and Company(pharmaceuticals); The Coca-Cola Company, PepsiCo (beverages);Qualcomm, Intel, AMD (semiconductors); Philip Morris International (tobacco); Cisco Systems (network communications equipment);Boeing, Lockheed Martin (aerospace/defense). General Motors; Ford Motors, Tesla (automobile & parts).The biggest export destinations from the US Aare countries like European Union, Canada, China, Mexico, Japan, Germany, South Korea, United Kingdom, France, Brazil, Taiwan, India, &Saudi Arabia.
Impact of Restart of USA Oil Export
The USA used to export crude oil as well as refined petroleum products to various nations. But after the oil embargo of 1973 when OPEC or oil producing & exporting nations stopped oil supply to USA; USA stopped oil exports and started creating strategic oil reserves. For 40 years this practice went on with crude oil imports meeting the oil requirements. but the discovery of shale gas & oil changed that. USA has the largest shale oil reserves in the world, which is extracted using a process called ‘fracking’. As the USA started exporting the shale oil & gas it led to drastic reduction in oil prices worldwide as oil importing nations became less dependent on crude oil from OPEC.
Despite losing out to China as the largest economy as well as the biggest exporting country in the world, the fact that the USA products are still technologically more advanced makes them the most sought after product.
Biggest Export Companies of the USA
The biggest exporter companies from the US traverse all types of industries from electronics and software to beverage and pharmaceuticals. The biggest exporters from the USA include Apple Inc., ); Exxon Mobil, Schlumberger, Chevron Corporation, ConocoPhillips, Occidental Petroleum (oil, gas); Microsoft (IT/hardware); GE (electrical products);Johnson & Johnson (medical equipment, supplies); Procter & Gamble (household, personal care items); Pfizer, Merck & Co, AbbVie, Eli Lilly and Company(pharmaceuticals); The Coca-Cola Company, PepsiCo (beverages);Qualcomm, Intel, AMD (semiconductors); Philip Morris International (tobacco); Cisco Systems (network communications equipment);Boeing, Lockheed Martin (aerospace/defense). General Motors; Ford Motors, Tesla (automobile & parts).The biggest export destinations from the US Aare countries like European Union, Canada, China, Mexico, Japan, Germany, South Korea, United Kingdom, France, Brazil, Taiwan, India, &Saudi Arabia.
Impact of Restart of USA Oil Export
The USA used to export crude oil as well as refined petroleum products to various nations. But after the oil embargo of 1973 when OPEC or oil producing & exporting nations stopped oil supply to USA; USA stopped oil exports and started creating strategic oil reserves. For 40 years this practice went on with crude oil imports meeting the oil requirements. but the discovery of shale gas & oil changed that. USA has the largest shale oil reserves in the world, which is extracted using a process called ‘fracking’. As the USA started exporting the shale oil & gas it led to drastic reduction in oil prices worldwide as oil importing nations became less dependent on crude oil from OPEC.
Despite losing out to China as the largest economy as well as the biggest exporting country in the world, the fact that the USA products are still technologically more advanced makes them the most sought after product.
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