The Top Importers and Exporters of the World's 18 Most Traded Goods
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The Top Importers and Exporters of the World’s 18 Most Traded Goods

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The Top Importers and Exporters of the World’s 18 Most Traded Goods

View the high resolution version of today’s graphic by clicking here.

Every day, massive quantities of goods get traded on the global market.

These goods can be entirely customized and unique, but more often they are things like commodities or bulk goods that get moved around on huge container ships from country to country. Included in this latter category would be common exports like crude oil, automobiles, iron ore, pharmaceuticals, and smartphones.

Which goods get traded the most, and what countries play the most important roles in these deals?

The Most Traded Goods

Today’s infographic comes to us from Teletrac Navman and it covers the world’s 18 most traded goods, as well as the top importer and exporter for each good.

Here are the good categories, along with the total dollar value and percentage of total exports that each category represents on the global market.

RankCategory of GoodTotal Value (2016)% of Total Global Exports
#1Cars$1,350 billion4.9%
#2Refined Petroleum$825 billion3.0%
#3Integrated Circuits$804 billion2.9%
#4Vehicle Parts$685 billion2.5%
#5Computers$614 billion2.2%
#6Pharmaceuticals$613 billion2.2%
#7Gold$576 billion2.1%
#8Crude Petroleum$549 billion2.0%
#9Telephones$510 billion1.8%
#10Broadcasting Equipment$395 billion1.4%
#11Diamonds$255 billion0.9%
#12Petroleum Gas$254 billion0.9%
#13Human or Animal Blood$252 billion0.9%
#14Aircraft$234 billion0.9%
#15Delivery Trucks$216 billion0.8%
#16Medical Instruments$216 billion0.8%
#17Insulated Wires$200 billion0.7%
#18Jewelry$198 billion0.7%

Finished automobiles are the top good traded worldwide with $1.35 trillion being traded each year between countries. Auto parts are not far behind in the #4 spot with $685 billion of trade.

Oil also stands out as a key commodity: refined petroleum ranks #2 with $825 billion of trade, while crude petroleum and petroleum gas are at #8 and #12, for $549 billion and $254 billion traded, respectively.

Finally, an odd standout is the category of human and animal blood – which apparently sees $252 billion in aggregate international trade each year.

In case you were wondering, here are the top exporters of human and animal blood:

Human and animal blood trade

Key Importers and Exporters

The United States is the biggest importer for 12 of the 18 trade categories, including the largest ones: automobiles and refined petroleum.

Interestingly, the U.S. is also the largest exporter of two of the goods that it is a top importer of: refined petroleum and medical equipment. This is because both are highly specialized categories – the U.S. may import one grade of refined oil at a low cost, while simultaneously exporting a higher or more specialized grade of oil at a premium.

Germany is a top exporter of autos, vehicle parts, and pharmaceuticals, while Switzerland is the number one importer and exporter of gold.

Lastly, China is the biggest exporter for five of the 18 trade categories: computers, broadcasting equipment, telephones, insulated wires, and jewelry, while being the largest importer of crude oil, integrated circuits, and aircraft.

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Technology

Ranked: America’s 20 Biggest Tech Layoffs Since 2020

How bad are the current layoffs in the tech sector? This visual reveals the 20 biggest tech layoffs since the start of the pandemic.

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layoffs in tech

Ranked: America’s 20 Biggest Tech Layoffs This Decade

The events of the last few years could not have been predicted by anyone. From a global pandemic and remote work as the standard, to a subsequent hiring craze, rising inflation, and now, mass layoffs.

Alphabet, Google’s parent company, essentially laid off the equivalent of a small town just weeks ago, letting go of 12,000 people—the biggest layoffs the company has ever seen in its history. Additionally, Amazon and Microsoft have also laid off 10,000 workers each in the last few months, not to mention Meta’s 11,000.

This visual puts the current layoffs in the tech industry in context and ranks the 20 biggest tech layoffs of the 2020s using data from the tracker, Layoffs.fyi.

The Top 20 Layoffs of the 2020s

Since 2020, layoffs in the tech industry have been significant, accelerating in 2022 in particular. Here’s a look at the companies that laid off the most people over the last three years.

RankCompany# Laid Off% of WorkforceAs of
#1Google12,0006%Jan 2023
#2Meta11,00013%Nov 2021
#3Amazon10,0003%Nov 2021
#4Microsoft10,0005%Jan 2023
#5Salesforce8,00010%Jan 2023
#6Amazon8,0002%Jan 2023
#7Uber6,70024%May 2020
#8Cisco4,1005%Nov 2021
#9IBM3,9002%Jan 2023
#10Twitter3,70050%Nov 2021
#11Better.com3,00033%Mar 2022
#12Groupon2,80044%Apr 2020
#13Peloton2,80020%Feb 2022
#14Carvana2,50012%May 2022
#15Katerra2,434100%Jun 2021
#16Zillow2,00025%Nov 2021
#17PayPal2,0007%Jan 2023
#18Airbnb1,90025%May 2020
#19Instacart1,877--Jan 2021
#20Wayfair1,75010%Jan 2023

Layoffs were high in 2020 thanks to the COVID-19 pandemic, halting the global economy and forcing staff reductions worldwide. After that, things were steady until the economic uncertainty of last year, which ultimately led to large-scale layoffs in tech—with many of the biggest cuts happening in the past three months.

The Cause of Layoffs

Most workforce slashings are being blamed on the impending recession. Companies are claiming they are forced to cut down the excess of the hiring boom that followed the pandemic.

Additionally, during this hiring craze competition was fierce, resulting in higher salaries for workers, which is now translating in an increased need to trim the fat thanks to the current economic conditions.

layoffs in the tech sector

Of course, the factors leading up to these recent layoffs are more nuanced than simple over-hiring plus recession narrative. In truth, there appears to be a culture shift occurring at many of America’s tech companies. As Rani Molla and Shirin Ghaffary from Recode have astutely pointed out, tech giants really want you to know they’re behaving like scrappy startups again.

Twitter’s highly publicized headcount reduction in late 2022 occurred for reasons beyond just macroeconomic factors. Elon Musk’s goal of doing more with a smaller team seemed to resonate with other founders and executives in Silicon Valley, providing an opening for others in tech space to cut down on labor costs as well. In just one example, Mark Zuckerberg hailed 2023 as the “year of efficiency” for Meta.

Meanwhile, over at Google, 12,000 jobs were put on the chopping block as the company repositions itself to win the AI race. In the words of Google’s own CEO:

“Over the past two years we’ve seen periods of dramatic growth. To match and fuel that growth, we hired for a different economic reality than the one we face today… We have a substantial opportunity in front of us with AI across our products and are prepared to approach it boldly and responsibly.”– Sundar Pichai

The Bigger Picture in the U.S. Job Market

Beyond the tech sector, job openings continue to rise. Recent data from the Bureau of Labor Statistics (BLS) revealed a total of 11 million job openings across the U.S., an increase of almost 7% month-over-month. This means that for every unemployed worker in America right now there are 1.9 job openings available.

Additionally, hiring increased significantly in January, with employers adding 517,000 jobs. While the BLS did report a decrease in openings in information-based industries, openings are increasing rapidly especially in the food services, retail trade, and construction industries.

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