Five charts to start your day
America and it's favourite trading partners
I love a good data visualisation in the morning. It gets me into the zone for thinking and being creative. So, why not completely dissect US trade with a Sankey diagram: imports on the left and exports on the right?
That’s what Visual Capitalist has done with this one, and oh boy, is it interesting. There are so many stories embedded in this masterpiece. Let’s take a look. Click on the link if you want to view the original in the source.
America’s trading partners completely dissected
Source: Visual Capitalist
Alright, so what interesting here? First off, you cannot possibly ignore that massive $1.18 trillion trade deficit that the US has. That means that the country imports far more than it exports.
The breakdown of its regional partners is particularly revealing. Canada and Mexico are where most of the flows go, which is unsurprising since both countries border the US. In Europe, the range of partners is diverse, with Germany being a major import source – most likely for cars. The real standout is China: The US imports a considerable $537 billion, yet only exports $154 billion to China.
There is a lot of data packed in here, yet it has been presented in such a beautiful way. Sourced from the US Bureau of Economic Analysis for 2022, it reveals just how complex trade remains, despite concerns that globalisation might be decoupling.
Coming up:
Productivity has grown faster in western Europe than in America
Chinese tech stocks listed in the US have underperformed
America’s changing payment methods of choice
Asset class performance this year (an update!)
If you are a paid subscriber, read on to enjoy. If not not, what are you thinking? You’re missing out.
