U.S. Exports and Imports Since 2026: Impact on Global Trade and Economic Growth
May 2026 U.S. trade snapshot: what the partner ranking shows
This ranking measures total U.S. goods trade with the largest partner countries in May 2026. The metric is exports to a partner plus imports from that partner, reported in current U.S. dollar billions. Higher total trade ranks higher.
Mexico was the largest U.S. goods trading partner in May 2026, followed by Canada and China. The table is country-specific, goods-only and based on unrevised Census-basis values. It is not a full-year ranking and it does not include services trade by partner.
For broader context, the monthly U.S. goods and services release reported May exports of $317.7 billion, imports of $395.3 billion and a goods and services deficit of $77.6 billion. Those national totals explain the wider trade balance, while the ranking below shows partner-level goods flows.
Mexico ranks first by total U.S. goods trade in the monthly partner table.
France is the 15th partner in the Census Top 15 list for the month.
The ranking includes the Census Top 15 trading partners for May 2026.
Current U.S. dollar billions; goods-only; monthly Census-basis values.
The table uses only published Census values, with no estimates added.
Overview: where U.S. goods trade was concentrated
The May table shows a concentrated partner structure. Mexico and Canada lead by a wide margin, reflecting North American production networks and high two-way goods movement. China ranks third, while Taiwan, Vietnam, Japan and South Korea show the importance of Asian manufacturing and electronics-linked trade.
The national trade release adds useful context. In May 2026, the U.S. goods deficit increased to $106.5 billion, while the services surplus increased to $28.9 billion. That split matters because the partner table below covers goods flows, while services are reported in the broader national balance.
Through May 2026, the goods and services deficit was lower than in the same period of 2025. The release reported that exports increased by $164.7 billion, or 11.7 percent, while imports decreased by $39.2 billion, or 2.1 percent, compared with the same period in 2025.
How to read this ranking
Total trade is flow size
Total trade adds U.S. exports to a partner and U.S. imports from that partner. It shows the size of the monthly goods relationship, not whether the United States has a surplus or deficit with that partner.
Monthly values are not annual totals
The ranking uses May 2026 only. It should not be read as a full-year 2026 ranking or as a long-term trend without comparing other months or year-to-date tables.
Services are outside the partner table
Partner rows cover goods trade on a Census basis. Services trade appears in the national goods and services release but is not broken out by partner in this ranking.
Current dollars can move for several reasons
Nominal trade values can shift because of prices, exchange rates, inventory timing, tariffs, commodity markets or real changes in volumes. A larger value does not automatically mean stronger real output.
Top 10 U.S. goods trading partners in May 2026
The top ten show two patterns. Mexico and Canada dominate through regional supply-chain links, while several Asian partners are import-heavy in this monthly view.
Top 10 partners by total U.S. goods trade, May 2026
| Rank | Partner | Value | Region / note |
|---|---|---|---|
| 1 | Mexico | $87.2B | North America; exports $33.1B; imports $54.2B. |
| 2 | Canada | $66.1B | North America; exports $29.8B; imports $36.3B. |
| 3 | China | $32.6B | Asia; exports $9.1B; imports $23.5B. |
| 4 | Taiwan | $29.3B | Asia; exports $4.7B; imports $24.6B. |
| 5 | Vietnam | $23.2B | Asia; exports $1.4B; imports $21.8B. |
| 6 | Japan | $22.8B | Asia; exports $11.0B; imports $11.8B. |
| 7 | Korea, South | $21.7B | Asia; exports $8.4B; imports $13.3B. |
| 8 | Germany | $21.0B | Europe; exports $7.6B; imports $13.4B. |
| 9 | India | $13.7B | Asia; exports $4.5B; imports $9.1B. |
| 10 | Thailand | $13.6B | Asia; exports $2.2B; imports $11.4B. |
Values are current U.S. dollar billions from the unrevised Census Bureau May 2026 Top Trading Partners table. The source table reports goods trade on a Census basis.
Chart: Top 15 partners by total goods trade
The chart uses the same values as the ranking table. Mexico is the benchmark at 100 percent, and Canada reaches about three-quarters of Mexico’s monthly total.
Methodology
The ranking metric is total U.S. goods trade by partner country for May 2026. The Census Bureau reports total trade as exports plus imports, on a Census basis, in current U.S. dollar billions. The ranking direction is descending.
Where the numbers come from
The numeric rows come from the U.S. Census Bureau Top Trading Partners page for May 2026. The page lists rank, exports, imports, total trade and percent of total trade for the Top 15 goods partners.
What the value means
A partner’s value is the combined value of goods exported from the United States to that partner and goods imported by the United States from that partner during the month.
What is not included
The table does not include partner-level services trade, inflation-adjusted volume, domestic value added, tariff incidence, re-export ownership, supply-chain risk or trade as a share of GDP.
How the sources are used
The Census partner table supplies the country values. The Census and BEA goods-and-services release is used for national context, so it does not replace the partner-level goods figures.
Values are shown as published total trade figures. Export and import values are included in row notes for context. Because the source table rounds all three fields, exports plus imports may not always equal the displayed total exactly.
Partners are included only when the May 2026 Top Trading Partners table reports rank, exports, imports and total trade. The table uses only published Census values, with no added estimates.
The ranking is goods-only, monthly, unrevised and reported on a Census basis. Current-dollar values can be affected by prices, exchange rates, commodity movements, shipment timing and inventory cycles.
A high total trade value does not automatically mean a trade surplus, stronger GDP growth, lower consumer prices or lower supply-chain risk. It shows the size of a monthly goods flow, not the welfare effect of that flow.
Main ranking: Top 15 U.S. goods trading partners in May 2026
Search by partner, filter by region, change the sort order or switch between the Top 10 and the full table. The table opens in Census rank order.
Top 15 partners by total U.S. goods trade, May 2026
| Rank | Partner | Value | Region / note |
|---|---|---|---|
| 1 | Mexico | $87.2B | North America; exports $33.1B; imports $54.2B. |
| 2 | Canada | $66.1B | North America; exports $29.8B; imports $36.3B. |
| 3 | China | $32.6B | Asia; exports $9.1B; imports $23.5B. |
| 4 | Taiwan | $29.3B | Asia; exports $4.7B; imports $24.6B. |
| 5 | Vietnam | $23.2B | Asia; exports $1.4B; imports $21.8B. |
| 6 | Japan | $22.8B | Asia; exports $11.0B; imports $11.8B. |
| 7 | Korea, South | $21.7B | Asia; exports $8.4B; imports $13.3B. |
| 8 | Germany | $21.0B | Europe; exports $7.6B; imports $13.4B. |
| 9 | India | $13.7B | Asia; exports $4.5B; imports $9.1B. |
| 10 | Thailand | $13.6B | Asia; exports $2.2B; imports $11.4B. |
| 11 | United Kingdom | $13.5B | Europe; exports $7.6B; imports $5.9B. |
| 12 | Netherlands | $13.4B | Europe; exports $11.2B; imports $2.1B. |
| 13 | Malaysia | $11.3B | Asia; exports $3.4B; imports $7.9B. |
| 14 | Italy | $11.0B | Europe; exports $4.1B; imports $6.9B. |
| 15 | France | $9.1B | Europe; exports $4.0B; imports $5.1B. |
Data source: U.S. Census Bureau Top Trading Partners, May 2026. The source table is goods-only, unrevised, monthly and reported on a Census basis. Ranking is calculated from published total trade values, descending.
Insights from the monthly U.S. trade table
Key insight
Mexico and Canada are the only partners above $60 billion in the table, showing how large North American goods flows were in May 2026.
Notable pattern
Several Asian partners are import-heavy in this snapshot. Taiwan, Vietnam and Thailand all show imports far above U.S. exports for the month.
Regional concentration
Asia accounts for eight of the 15 partner rows, Europe accounts for five, and North America holds the top two positions.
Outlier
The Netherlands ranks 12th by total trade but is much stronger on the U.S. export side than on the import side in the source table.
What this monthly trade snapshot can and cannot show
The table shows where the largest U.S. goods flows were concentrated in one month. It is useful for reading partner exposure, supply-chain concentration and the relative size of trade corridors, but it does not prove an economic impact by itself.
Mexico and Canada matter because many goods move through regional production networks. Automobiles, energy, agriculture, components and finished goods can cross borders as part of integrated supply chains, so a large total-trade number often reflects two-way production links rather than simple one-way sales.
Asian partners matter for a different reason. Many of their positions in the table are import-heavy, which can reflect U.S. demand for manufactured goods, electronics, machinery, consumer products or intermediate inputs. The table does not identify product categories, so that interpretation should be read as context rather than a row-level product claim.
The national release gives a broader accounting signal: through May 2026, exports were higher than in the same period of 2025 while imports were lower. That can affect trade-deficit accounting, but current-dollar partner values alone do not prove real GDP growth, productivity gains or welfare effects.
Why countries differ in the U.S. partner ranking
North America
Mexico and Canada rank highest because nearby production networks, trucking routes, energy flows, agriculture and manufacturing links create large two-way goods movement.
Asia
Asian partners often rank high because of manufacturing scale, electronics supply chains, intermediate inputs and U.S. demand for consumer and business goods.
Europe
European partners appear through a mix of industrial goods, pharmaceuticals, machinery, vehicles, consumer products and high-value transatlantic trade flows.
Monthly timing
Shipment timing, inventories, commodity prices and exchange rates can shift one month’s current-dollar values. A single month should be read as a snapshot, not a permanent ranking.
FAQ
Who was the largest U.S. goods trading partner in May 2026?
Mexico ranked first, with $87.2 billion in total U.S. goods trade in the May 2026 partner table.
Does total trade mean exports plus imports?
Yes. In this ranking, total trade is the value of U.S. goods exports to a partner plus U.S. goods imports from that partner.
Is this ranking about goods, services or both?
The partner ranking is goods-only on a Census basis. The national context includes goods and services because the monthly U.S. international trade release reports both.
Are these full-year 2026 values?
No. The ranking uses May 2026 monthly partner values. It should not be read as a full-year ranking.
Why can total trade be high even when there is a deficit?
Total trade measures flow size. A partner can have large exports to the United States and smaller imports from the United States, creating a deficit while still ranking high by total trade.
Why do goods and services results differ?
Goods and services are measured separately. In May 2026, the United States had a goods deficit and a services surplus, so services partly offset the goods deficit in the overall balance.
Why are Mexico and Canada so high?
Mexico and Canada are deeply integrated with U.S. supply chains. Goods often move across borders as part of regional manufacturing, energy, agriculture and consumer-goods networks.
What does this ranking not measure?
It does not measure real trade volume, tariffs paid, profit margins, domestic value added, jobs created, trade openness, inflation effects or GDP impact by partner.
Sources
U.S. Census Bureau — Top Trading Partners, May 2026
Used for the partner ranking, including rank, exports, imports and total trade values.
https://www.census.gov/foreign-trade/statistics/highlights/topcm.html
U.S. Census Bureau — U.S. International Trade in Goods and Services
Used for the national May 2026 trade balance, export and import context.
BEA — International Trade in Goods and Services
Used for national-account context and the official goods-and-services release environment.
https://www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services
FT-900 — May 2026 release PDF
Used for release definitions, monthly goods and services context and Census-basis notes.
https://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf
