In 2020, Andalusian exports to the United States reached 1,676 million euros. Thus, a trade surplus was recorded with a coverage rate of 106%, despite registering a decrease of -14.6% concerning the 2019 figures due to the economic crisis caused by the COVID-19 pandemic. These data are provided by Extenda.
The United States, with a population of almost 330 million inhabitants, is the third largest market in terms of population and one of the most important for Andalusian companies present in international markets. According to World Bank data, the United States is the world’s largest importer and second largest exporter of goods, as well as the largest importer and exporter of commercial services. In general, the North American country has reduced its trade barriers and has coordinated with others in the global economic system, despite going through periods of greater protectionism, such as that which occurred during Donald Trump’s administration.
By products, in 2020 Andalusia exported to the USA, in first place, olive oil, with 396 million euros and 23.6% of total exports, with an increase of 11.1% compared to 2019. Also of note are sales of fuels and mineral oils, manufactured goods for construction, aircraft and space vehicles, as well as fruit and vegetables.
Following Joe Biden’s entry into the US government, it is expected that free trade will gradually be restored through trade agreements with other countries, including the European Union. In this sense, the country has already taken its first steps with the temporary suspension of the tariffs imposed by the Airbus and Boeing conflict, the announcement of which by the US authorities coincided with the development of this networking session.