2d ago
America's $3.4T in Imports Equal to 12% of GDP 📦
Key Takeaways
- As the world's largest importer, U.S. imports reached $3.4 trillion in 2024—the equivalent of 12% of GDP.
- Imports in the European Union are equal to 35% of GDP, largely driven by fossil fuels and electronics imports.
- China imported $2.6 trillion in 2024, the second-largest globally.
The Import Dependency of Major Nations
In 2024, $24.7 trillion in goods were imported worldwide, with some countries relying more heavily on imports due to a lack of natural resources, manufacturing capacity, and cost differentials.
Mexico, for instance, has a high import dependency, given its reliance on the U.S. for agricultural goods and auto parts.
Similarly, imports are equivalent to more than a third of GDP in South Korea, fueled by food and energy imports.