Category: economy

China’s Growing Trade Dominance in Latin America


This post is by Carmen Ang from Visual Capitalist


Latin American trade, China versus U.S.

China’s Growing Trade Dominance in Latin America

Over the past 20 years, China’s economic presence around the world has grown significantly, including in Latin America.

Now, China is one of Latin America’s largest trade partners, which is threatening U.S. dominance in the region. This graphic by Latinometrics uses IMF data to show trade flows between China and Latin America since the 1980s.

Two Decades of Trade Growth

Four decades ago, the United States had a much stronger trade relationship with Latin America than China did. In 1981, Cuba was the only Latin American country trading more with China than the United States.

Here’s a look at total trade flows between Latin America and the two countries since 1980. Latinometrics calculated trade flows as total exports plus imports.

Trade Flows by YearU.S. & Latin AmericaChina & Latin America
1980$64,916.46M$1,149.20M
1981$68,954.16M$1,524.78M
1982$58,601.14M$1,381.61M
1983$53,347.45M$1,973.34M
1984$61,829.84M$1,573.58M
1985$62,241.61M$2,489.73M
1986$54,441.85M$1,888.88M
1987$62,890.00M$1,721.23M
1988$70,673.07M$2,433.94M
1989$79,140.76M$2,149.71M
1990$91,090.09M$1,997.48M
1991$127,120.71M$1,741.68M
1992$144,422.66M$2,051.77M
1993$159,873.67M$2,923.49M
1994$182,872.71M$3,724.97M
1995$204,901.92M$5,847.65M
1996$241,927.58M$6,711.47M
1997$290,032.40M$8,609.87M
1998$308,555.72M$8,844.21M
1999$341,504.58M$8,138.22M
2000$400,901.25M$12,452.97M
2001$371,377.08M$15,818.76M
2002$361,536.31M$19,033.47M
2003$369,218.54M$29,215.64M
2004$420,744.88M$42,242.20M
2005$477,850.02M$56,609.70M
2006$544,418.91M$77,528.04M
2007$585,446.96M$109,558.66M
2008$656,499.37M$140,274.87M
2009$493,741.65M$130,359.64M
2010$619,989.84M$193,853.31M
2011$751,891.79M$249,708.91M
2012$780,401.27M$264,908.73M
2013$785,444.16M$286,816.10M
2014$808,542.96M$281,412.70M
2015$728,071.40M$262,383.97M
2016$692,719.56M$245,403.45M
(Read more...)

Visualized: The Value of U.S. Imports of Goods by State


This post is by Avery Koop from Visual Capitalist


chart showing the value of u.s. goods imports by state

Visualized: The Value of U.S. Imports of Goods by State 2021

For nearly 50 years and counting, U.S. imports have exceeded exports—and 2021 was no exception. Imports of goods to the U.S. equaled $2.8 trillion, relative to $1.8 trillion for exports, putting the 2021 goods trade deficit at its highest level on record.

Using the most recent data on global trade from the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, we take a closer look at the value of American goods imports and visualize them state by state.

The Top 10 Importing States, by Total Goods Value

The top 10 states by import value account for 64.5% of all U.S. imports, or $1.8 trillion.

RankStateImport Value ($B)Share (%)
#1California$470.716.5%
#2Texas$312.611.0%
#3Illinois$203.17.1%
#4New Jersey$156.95.5%
#5New York$153.75.4%
#6Michigan$132.24.6%
#7Georgia$123.74.3%
#8Pennsylvania$98.13.4%
#9Tennessee$94.03.3%
#10Florida$93.63.3%
Top 10 States$1,838.664.5%

Overall, the goods trade deficit—the amount by which a country’s imports exceed its exports—was more than $1 trillion in 2021, increasing over 18% from the previous year. Goods imports specifically increased by nearly $502 billion, a 21% increase year-over-year.

California, the U.S.’s top importer, saw over $470 billion worth of goods come in last year. Some of its big ticket items fell in line with the state’s tech sector’s needs, like automatic data processing machines and accessories (Read more...)

Ranked: The Most and Least Livable Cities in 2022


This post is by Avery Koop from Visual Capitalist


Ranked: The Most and Least Livable Cities in 2022

Ranked: The Most and Least Livable Cities in 2022

Pandemic restrictions changed the livability of many urban centers worldwide as cultural sites were shuttered, restaurant dining was restricted, and local economies faced the consequences. But as cities worldwide return to the status quo, many of these urban centers have become desirable places to live yet again.

This map uses annual rankings from the Economist Intelligence Unit (EIU) to show the world’s most livable cities, measuring different categories including: stability, healthcare, culture and environment, education, and infrastructure.

A Quick Note on Methodology

The ranking attempts to assess which cities across the globe provide the best living conditions, by assigning a score on 30 quantitative and qualitative measures across the five categories with the following weightings:

  1. Healthcare (20%)
  2. Culture & Environment (25%)
  3. Stability (25%)
  4. Education (10%)
  5. Infrastructure (20%)

Of the 30 factors within these categories, the qualitative ones are assigned as acceptable, tolerable, uncomfortable, undesirable, or intolerable by a team of expert analysts. Quantitative measures are given a score based on a number of external data points. Everything is then weighted to provide a score between 1-100, with 100 being the ideal.

Ranked: The 10 Most Livable Cities

Of the 172 cities included in the rankings, many of the most livable cities can be found in Europe. However, three of the top 10 are located in Canada: Vancouver, Calgary, and Toronto.

Vienna has been ranked number one many times, most recently in 2019. According to the EIU, the Austrian capital only fell (Read more...)

How Much Land does the U.S. Military Control in Each State?


This post is by Avery Koop from Visual Capitalist


Mapping u.s. military land in states

How Much Land does the U.S. Military Own in Each State?

The United States spends an unparalleled amount of money on its military⁠—about $778 billion each year to be precise.

Additionally, the U.S. military also owns, leases, or operates an impressive real estate portfolio with buildings valued at $749 billion and a land area of 26.9 million acres⁠, of which around 98% is located within the United States.

This visual, using data from the Department of Defense (DoD) reveals how much of each state the U.S. military owns, leases, or operates on.

This map visualizes the share of a state comprised by military sites, which the Department of Defense defines as a specific geographic location that has individual land parcels or facilities assigned to it. The geographical location is leased to, owned by, or otherwise under the jurisdiction of the DoD.

What is Military Land Used For?

The DoD is the larger government umbrella under which the military falls and the department operates on over 26 million acres of land stateside.

To further break it down the U.S. military is divided into four main branches:

  • Army
  • Navy
  • Air Force
  • Marine Corps

There is also the Space Force, the Coast Guard, and the National Guard. However, most of the land is dedicated to the Army, which is the military’s largest branch.

Military bases are used for training and housing soldiers, testing weapons and equipment, conducting research, and running active operations, among other things. A large majority of the square footage (Read more...)

How Much Land does the U.S. Military Control in Each State?


This post is by Avery Koop from Visual Capitalist


Mapping u.s. military land in states

How Much Land does the U.S. Military Own in Each State?

The United States spends an unparalleled amount of money on its military⁠—about $778 billion each year to be precise.

Additionally, the U.S. military also owns, leases, or operates an impressive real estate portfolio with buildings valued at $749 billion and a land area of 26.9 million acres⁠, of which around 98% is located within the United States.

This visual, using data from the Department of Defense (DoD) reveals how much of each state the U.S. military owns, leases, or operates on.

This map visualizes the share of a state comprised by military sites, which the Department of Defense defines as a specific geographic location that has individual land parcels or facilities assigned to it. The geographical location is leased to, owned by, or otherwise under the jurisdiction of the DoD.

What is Military Land Used For?

The DoD is the larger government umbrella under which the military falls and the department operates on over 26 million acres of land stateside.

To further break it down the U.S. military is divided into four main branches:

  • Army
  • Navy
  • Air Force
  • Marine Corps

There is also the Space Force, the Coast Guard, and the National Guard. However, most of the land is dedicated to the Army, which is the military’s largest branch.

Military bases are used for training and housing soldiers, testing weapons and equipment, conducting research, and running active operations, among other things. A large majority of the square footage (Read more...)

Ranked: The World’s Largest Container Shipping Companies


This post is by Marcus Lu from Visual Capitalist


infographic showing the largest container shipping companies

Visualizing the World’s Largest Container Shipping Companies

Did you know that 80% of the global goods trade is transported over sea? Given the scale of human consumption, this requires an enormous number of shipping containers, as well as ships to carry them.

At an industry level, container shipping is dominated by several very large firms. This includes Maersk, COSCO Shipping, and Evergreen. If you live along the coast, you’ve probably seen ships or containers with these names painted on them.

Generally speaking, however, consumers know very little about these businesses. This graphic aims to change that by ranking the 10 largest container shipping companies in the world.

Ranking the Top 10

Companies are ranked by two metrics. First is the number of ships they own, and second is their total shipping capacity measured in twenty-foot equivalent units (TEUs). A TEU is based on the volume of a twenty-foot long shipping container.

The data used in this infographic comes from Alcott Global, a logistics consultancy. Fleet sizes are as of June 2021, while TEU capacity is from January 2022.

RankCompanyCountryTEUNumber of Ships
1Maersk🇩🇰 Denmark4.3M718
1MSC (Mediterranean Shipping Company)🇨🇭 Switzerland4.3M606
3CMA CGM🇫🇷 France3.2M542
4COSCO Shipping🇨🇳 China2.9M497
5Hapag-Lloyd🇩🇪 Germany1.7M259
6Ocean Network Express🇯🇵 Japan1.5M218
7Evergreen Marine🇹🇼 Taiwan1.5M201
8HHM (Hyundai Merchant Marine)🇰🇷 South Korea0.8M79
9Yang Ming🇹🇼 Taiwan0.7M87
10Wan Hai Lines🇹🇼 Taiwan0.4M (Read more...)

Mapped: The Top U.S. Imports by State


This post is by Carmen Ang from Visual Capitalist


Map of the most common import in each U.S. state

Click to view a larger version of the graphic.

Mapped: The Top U.S. Imports by State

In 2021, the U.S. brought in approximately $2.83 trillion worth of goods from its various international trading partners.

But what types of goods are most commonly imported throughout different parts of America? This graphic by OnDeck shows the top import in every U.S. state, using January 2022 data from the U.S. Census Bureau.

The Most Popular Categories of U.S. Imports

Petroleum is the most popular import in 12 states, making it the most common import across America. In 2021, about 72% of imported petroleum was crude oil, which was then domestically refined into products like gasoline, diesel, or jet fuel.

StateTop Import
AlabamaPetroleum
AlaskaPetroleum
ArizonaAircraft
ArkansasAircraft
CaliforniaVehicles
ColoradoPetroleum
ConnecticutSilver
DelawareMedicine
FloridaNucleic Acids
GeorgiaVehicles
HawaiiPetroleum
IdahoData Processing Parts
IllinoisTelephones
IndianaMedicine
IowaRoad Tractors
KansasAircraft
KentuckyVaccines and Antibodies
LouisianaPetroleum
MaineLight Oils
MarylandVehicles
MassachusettsLight Oils
MichiganVehicles
MinnesotaPetroleum
MississippiPetroleum
MissouriPetroleum
MontanaPetroleum
NebraskaNucleic Acids
NevadaElectrical Processors
New HampshireAircraft
New JerseyMedicine
New MexicoData Processing Parts
New YorkPrecious Metal
North CarolinaVaccines and Antibodies
North DakotaPlatinum
OhioMedicine
OklahomaPetroleum
OregonSemiconductor Machines
PennsylvaniaMedicine
Rhode IslandVehicles
South CarolinaUranium
South DakotaCow Meat
TennesseeMedicine
TexasPetroleum
UtahGold
VermontElectrical Energy
VirginiaPrinter Parts
WashingtonVehicles
West VirginiaAircraft
WisconsinVaccines
WyomingPetroleum

A (Read more...)

Mapped: The Top U.S. Exports by State


This post is by Dorothy Neufeld from Visual Capitalist


Map of the most common export in each U.S. state

Click to view a larger version of the graphic.

Mapped: The Top U.S. Exports by State

The U.S. exported over $1.3 trillion in goods in 2020, the second-highest amount worldwide.

While refined petroleum was the top export overall at $58.4 billion, aircraft exports were actually the highest across 14 states—more than any other form of export.

This infographic from OnDeck shows America’s top exports by state, using January 2022 data from the U.S. Census Bureau.

America’s Top Exports, by Category

As shown below, Florida, Kansas, and numerous other states all have aircraft (and related parts) as their top export.

Here is the top export category for each state, using 2020 figures.

StateTop Export
ArizonaAircraft
ArkansasAircraft
ConnecticutAircraft
FloridaAircraft
GeorgiaAircraft
KansasAircraft
KentuckyAircraft
MarylandAircraft
New HampshireAircraft
OhioAircraft
OklahomaAircraft
South CarolinaAircraft
WashingtonAircraft
WisconsinAircraft
South DakotaBrewing Dregs
MontanaCoal
VirginiaCoal
West VirginiaCoal
IowaCorn
ColoradoCow Meat
NebraskaCow Meat
New MexicoData Processing Parts
New YorkDiamonds
WyomingDisodium Carbonate
OregonElectrical Processors
VermontElectronic Circuits
HawaiiFerrous Scrap
MassachusettsGold
NevadaGold
UtahGold
MinnesotaLight Oils
North DakotaLight Oils
MaineLobster
DelawareMedicine
IllinoisMedicine
IndianaMedicine
PennsylvaniaMedicine
New JerseyPalladium
MississippiPetroleum
TexasPetroleum
Rhode IslandPrecious Metal
IdahoSemiconductors
LouisianaSoybeans
TennesseeSurgical Instruments
North CarolinaVaccines and Antibodies
AlabamaVehicles
CaliforniaVehicles
MichiganVehicles
MissouriVehicles
AlaskaZinc

While the vast majority of the aerospace and defense industry consists (Read more...)

The $100 Trillion Global Economy in One Chart


This post is by Avery Koop from Visual Capitalist


This infographic visualizes the 100 trillion global economy by country GDP

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Visualizing the $100 Trillion Global Economy in One Chart

Surpassing the $100 trillion mark is a new milestone for global economic output.

We’ve covered this topic in the past when the world’s GDP was $88 trillion (2020) and then $94 trillion (2021), and now according to the latest projections, the IMF expects the global economy to reach nearly $104 trillion in nominal value by the end of 2022.

Although growth keeps trending upwards, the recovery that was expected in the post-pandemic period is looking strained. Because of recent conflicts, supply chain bottlenecks, and subsequent inflation, global economic projections are getting revised downwards.

Global annual GDP growth for 2022 was initially projected to be 4.4% as of January, but this has since been adjusted to 3.6%.

Note: This data from the IMF represents the most recent nominal projections for end of year as of April 2022.

ℹ Gross Domestic Product (GDP) is a broad indicator of the economic activity within a country. It measures the total value of economic output—goods (Read more...)

Charted: Four Decades of U.S. Inflation


This post is by Carmen Ang from Visual Capitalist


Four Decades of U.S. Inflation

Charted: Four Decades of U.S. Inflation

In May 2022, the annual rate of U.S. inflation grew to 8.6%—the highest it’s been in four decades, according to the Bureau of Labor Statistics.

What’s driving this surge, and what products are seeing the most significant price jumps?

This visualization by Pablo Alvarez shows U.S. inflation levels since 1982 and highlights a few product categories that have seen the biggest year-over-year increases.

The Category Breakdown

Perhaps unsurprisingly, energy sources have seen the biggest year-over-year climb. Gasoline has seen one of the biggest spikes, up 48.7% since May 2021.

Item% yearly change (May 2022)
Gasoline (all types)48.7%
Energy34.6%
Natural Gas30.2%
Electricity12.0%
Food10.1%
All items8.6%
Apparel5.0%

Across the U.S., the average price of gas sat at $4.807 per gallon as of July 4, and experts predict this figure could grow to $6 per gallon by the end of the summer.

While fuel prices were on the upswing prior to the Russia-Ukraine conflict, due to loosening COVID-19 restrictions and increased demand for travel, the conflict sent oil prices skyrocketing. This is because many countries placed sanctions on Russian oil, which put a squeeze on global supply.

Food has also seen a massive cost spike, up 10.1% since May 2021. This is largely due to supply-chain issues, increased transportation costs, and fertilizer shortages.

The Spending Spree Continues

Despite rising prices, many consumers have been continuing to spend. In May 2022, personal consumption expenditures (which account for (Read more...)