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U.S.-EU Export Interdependence: Diverging Trends Since the Global Financial Crisis
The EU’s reliance on exports to the U.S. increased from 1.9% of GDP in 2008 to 3.0% in 2024, while the U.S. reliance on exports to the EU...
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Feb 41 min read
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U.S.-EU Trade Interdependence: Diverging Trends Since the Global Financial Crisis
Since the Global Financial Crisis, trade between the U.S. and the European Union has followed divergent trends relative to each economy's...
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Feb 41 min read
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China's Top Crude Oil Suppliers: A Two-Decade Transformation (2000–2024)
China's crude oil imports have grown at a compound annual growth rate (CAGR) of 9.0%, surging from 1.4 million barrels per day (bpd) in...
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Feb 41 min read
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Top Crude Oil Suppliers to the U.S. (1975–2024): Canada's Dominance Over OPEC
In the 12 months ending November 2024, U.S. crude oil imports averaged 6.58 million barrels per day (Mb/D)—35% lower than the peak levels...
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Feb 41 min read
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EU-U.S. Trade (LTM Nov 2024): €529 Billion Exports, €336 Billion Imports, €193 Billion Surplus
In the 12 months ending November 2024, European Union trade with the U.S. totaled €866 billion, comprising €529 billion in exports, €336...
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Feb 41 min read
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Canada Supplied 61% of U.S. Crude Oil Imports in 2024, Reaching a Record 4.0 Mb/D
In the 12 months ending November 2024, U.S. crude oil imports from Canada reached a record 4.0 million barrels per day (Mb/D), accounting...
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Feb 21 min read
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U.S. Trade-to-GDP Ratio Declines Steadily Since 2012
The U.S. trade-to-GDP ratio peaked at 24.0% in 2011 but has steadily declined, reaching 18.4% in 2024.
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Feb 21 min read
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Diverging Trade Balances: U.S. Deficit Hits $1.2 Trillion as China’s Surplus Climbs to $1.0 Trillion
In 2024, the U.S. trade deficit widened to $1.2 trillion, marking a 13.3% increase from the previous year, while China’s trade surplus...
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Feb 21 min read
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U.S. Goods Trade Deficit Hits Record $1.2 Trillion in 2024
In 2024, the U.S. goods trade deficit reached a historic high of $1.20 trillion, surpassing the previous record of $1.18 trillion set in...
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Feb 21 min read
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China's Export Reliance: A Return to Early 2000s Levels
China's exports-to-GDP ratio declined from a peak of 35% in 2006 to 17% in 2019–2020, before stabilizing at approximately 19% in...
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Feb 21 min read
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U.S. Trade Deficit: Shift from China to the Rest of the World
The U.S.-China trade war has had a lasting impact on the U.S. trade deficit, redirecting a significant portion of it from China to other...
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Feb 21 min read
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Germany's Outsized Share of EU Manufacturing Trade Surplus
In 2023, the European Union's trade surplus in manufactured goods totaled $546 billion, comprising $439 billion from extra-EU trade and...
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Feb 21 min read
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China's Crude Oil Import Sources in 2024
China's crude oil imports have surged from 1.4 million barrels per day (bpd) in 2000 to an unprecedented 11.1 million bpd in 2024,...
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Feb 21 min read
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China’s Trade-to-GDP Ratio Reverts to Pre-21st Century Levels
From a peak of 64% in 2006, China's trade-to-GDP ratio declined to an average of 33% between 2016 and 2024. This reduction brings the...
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Feb 21 min read
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Russia Becomes China's Top Crude Oil Supplier in 2024 with 2.19 Mb/D, Surpassing Saudi Arabia's 1.55 Mb/D
Russia, Saudi Arabia, Malaysia, and Iraq supplied 57.5% of China’s crude oil imports in 2024. In 2024, Russia exported 2.19 million...
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Jan 271 min read
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China's Global Trade Surplus Soars, but U.S. Growth Lags
Since the onset of U.S.-China trade tensions in 2018, China's overall trade surplus surged by 176%, climbing from $359 billion to $992...
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Jan 271 min read
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Global Digitally Delivered Services Trade Surges to $4.3 Trillion in 2023
From 2005 to 2023, global trade in digitally delivered services* expanded at a compound annual growth rate (CAGR) of 8.2%, outpacing the...
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Jan 261 min read
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China's Crude Oil Imports Reach 11.1 Mb/D in 2024, Down 1.9% from 2023
China's crude oil imports averaged 11.1 million barrels per day (Mb/D) in 2024, reflecting a modest 1.9% decline from 11.3 Mb/D in 2023....
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Jan 241 min read
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China's Export Reliance on the U.S. Falls Sharply, Mirroring U.S. Import Shift Away from China
The U.S. share of China’s exports rose from 14% in 1985 to a peak of 42% in 1999 but has steadily declined since 2000. By 2016–2018, it...
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Jan 221 min read
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U.S. and EU Drive 61% of China’s Trade Surplus in 2024 Despite Modest 24%
In 2024, China's trade surplus was heavily driven by the U.S. and EU, which accounted for 61.3% of the total surplus. Despite their...
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Jan 211 min read
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