Capitalism spawns competition and ultimately steers the flow of imports and exports between countries.
At any given time, the import or export prices of one country may counter those of another, which impacts all parts of the businesses involved. For example, strategical imports such as domestic grain alternatives like corn substitutes and barley allow China’s feed mills to increase production at cheaper prices. The demand resulted in a 68% increase of barley imports, which is primarily used in brewing beer.
In America, a lot of what we import is a little ironic. For example, even though the U.S. controls more ocean than any other country, 86 percent of the seafood we consume is imported. A lot of the salmon America exports to China (95,000 tons per year) for processing is actually imported back to America (41,000 tons per year) for consumption.
Fascinated by the types of things America imports, we put together an infographic showcasing some of the top imports over the past year, as well as insights to the top imports from different countries
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Which imports were you most surprised by? Let us know in the comments below!