
Ranked: Which G20 Countries Rely Most on the U.S. for Exports?
China lost its position as the top exporter of goods to the United States in 2023, marking the first time in 17 years (since 2006) that it was not the leading source of U.S. imports.
The U.S. absorbs 18% of the average G20 economy’s exports.
Canada and Mexico each ship roughly three-quarters of their goods exports to the U.S.
Just 0.9% of Russia’s exports go to the U.S., the lowest share among G20 countries.
In 2023, Mexico surpassed China to become the top exporter to the U.S.
Major Factors Driving the Shift
- Trade Tensions & Tariffs: Ongoing tariffs first instituted in 2018–2019 under the Trump administration and maintained by the Biden administration significantly raised the cost of importing Chinese goods.
- Nearshoring & Supply Chain Diversification: American companies increasingly shifted manufacturing and sourcing closer to home (nearshoring) or to neighboring allies (friendshoring) to mitigate geopolitical risks and supply chain bottlenecks experienced during the pandemic.
- Rise of USMCA Integration: The United States–Mexico–Canada Agreement (USMCA) catalyzed trade within North America, particularly across the automotive, machinery, and electronics sectors.
- Indirect Re-routing: While direct imports from China to the U.S. dropped substantially (falling over 20% in 2023 alone), Chinese firms simultaneously expanded intermediate goods exports and foreign direct investment into countries like Mexico and Vietnam.