USA as the leading market for worldwide exports of Electrotechnical Engineering: which States are driving the growth ?
Q1-2024 trade data for American States let identify the fastest-growing territories
Published by Marcello Antonioni. .
Conjuncture United States of America Export markets High-tech American States Global economic trends
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World Exports of Electrotechnical Engineering
World trade data for the first quarter of 2024, available in the ExportPlanning Quarterly World Trade Datamart, highlight a new year-over-year decline - although attenuated compared to the previous two quarters - in global sales of Electrotechnical Engineering1: -1.6% in euro values compared to the corresponding period 2023 (-4.2% at constant prices).
In the first quarter of the year, world exports of Electrotechnical Engineering, although overall down (penalised above all by the declines in the markets of Germany, Netherlands, Hong Kong and China, France and Austria), found support from the US market: in the first three months of 2024, the industry's global exports recorded the most significant increase on the US market (+450.4 million euros).
The US market is therefore confirmed as the main destination for world exports of Electrotechnical Engineering (with almost 101 billion euros in 2023)2, destination driving global demand for the industry: in the period 2020-2023, global sales of electrotechnics aimed at the US market grew overall by 32.6 billion euros, clearly the most significant increase among the world markets in the industry3.
From 2019 to today, the US market has shown an overall increase in imports of Electrotechnical Engineering
from the world of over 33 billion euros
World Exports of Electrotechnical Engineering:
main driving markets in the 1st quarter of 2024
| Level 2023 | Delta (M €) | ||
| Market | (Bn €) | 2023/2019 | Q1-2024/Q1-2023 |
| United States | 100.8 | +32 648 | + 450.4 |
|---|---|---|---|
| Saudi Arabia | 7.1 | +3 967 | + 392.8 |
| United Arab Emirates | 6.8 | +1 093 | + 217.2 |
| Spain | 11.3 | +3 865 | + 160.0 |
| Belgium | 8.1 | +2 022 | + 150.1 |
Source: ExportPlanning - Quarterly World Trade Datamart
Electrotechnical Engineering imports of the American States
The import data for the United States, broken down by State and partner Country, available in the Quarterly Trade of American States Datamart, allow documenting, within the US market, the most relevant geographical areas and those driving the overall demand for Electrotechnical Engineering in the most recent period.
In particular, in 2023 Texas [TX] held the record for Electrotechnical Engineering imports (15.9 billion euros), closely followed by California [CA] (€13.3 Bn) and, further away, from Illinois [IL] (€5.3 Bn), Georgia [GA] (€5.1 Bn), North Carolina [NC] (€4.8 Bn), Michigan [MI] (€4.6 Bn), Arizona [AZ] (€3.7 Bn), Florida [FL] (€3.5 Bn), Pennsylvania [PA] (€3.5 Bn) and Ohio [OH] (€3.3 Bn).
With reference to the period 2020-2023, however, the major contributions to the growth of US imports of electrical engineering are derived - in order - from the markets of Texas (+5.8 billion euros), California (+4.1 Bn €), Georgia (+2.4 Bn €), North Carolina (+1.9 Bn €), Michigan (+1.8 Bn €) and Florida (+1.5 Bn €).
Finally, the table below shows the American states that have highlighted the greatest trend increases in Electrotechnical Engineering's imports in the first three months of 2024. Above all, the performance of the State of Georgia stands out (+141.4 million euros compared to the corresponding period in 2023), followed by those of Texas (+131.6 million €), Kentucky (+110.8 million €), South Carolina (+100.1 million €) and Missouri (+92 million €).
US Imports of Electrotechnical Engineering:
main driving States in the 1st quarter of 2024
| Level 2023 | Delta (M €) | ||
| American State | (Bn €) | 2023/2019 | Q1-2024/Q1-2023 |
| Georgia | 5.1 | +2 422 | + 141.4 |
|---|---|---|---|
| Texas | 15.9 | +5 778 | + 131.6 |
| Kentucky | 1.7 | + 141 | + 110.8 |
| S-Carolina | 2.7 | + 534 | + 100.1 |
| Missouri | 1.7 | + 695 | + 92.0 |
Source: ExportPlanning - Quarterly Trade of American States Datamart
Conclusions
Data for the first quarter of 2024 confirmed the driving role of the US market for global sales of Electrotechnical Engineering.
In particular, given the emerging difficulties in the German and Chinese markets, the US market shows widespread growth at a territorial level.
The analysis of quarterly imports from American States, which can be broken down by partner country, can allow us to document the territories of the US market that are continuing to offer positive contributions to the growth of global sales of Electrotechnical Engineering.
1) See the list of sectors included in this analysis in the following table.
2) Among the global markets of Electrical Engineering in 2023, behind the United States, there were Germany (58.7 billion euros) and China (40.8 Bn €), both in significant decline in the first quarter of the year.
3) In the 2020-2023 period, behind the US market of Electrical Engineering, we note - for the magnitude of increases - the growth of the markets of Germany (+18.3 billion euros) and Netherlands (+8.5 Bn €), both - as mentioned - decreasing in the first quarter of the year.
