In 2022, global imports climbed to $25.6 trillion in value, or about the size of the U.S. GDP.
As an engine of growth, global trade broadens consumer choices and can lower the cost of goods. For businesses, it can improve the quality of inputs and strengthen competitiveness.
With $3.4 trillion in imports in 2022, the U.S. is the largest importer globally.
Even though higher inflation and market uncertainty loomed over the economy, U.S. imports increased 15% annually, with China as its top goods importing partner.
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