Exporting products from the United States to other countries around the world can be a lucrative business opportunity. However, with so many options to choose from, narrowing down the best products to export can be tricky. This blog post will discuss the top 20 products that are projected to be in high demand for export from the USA in 2024.
I’ve structured this post in an easy-to-read format, with helpful tables and numbered lists to break things down. My goal is to provide actionable advice to aspiring exporters on exactly what items have major export potential in the coming year. I’ll also share some tips on how to tap into these hot export markets. Let’s dive in!
Why Export Products From the United States
First, let’s discuss why exporting products from the US is such a big business. There are several compelling reasons so many entrepreneurs and companies export American-made goods:
- Demand for “Made in USA” products – Customers around the world view American-made goods as high quality and status symbols. Products stamped “Made in USA” can often fetch higher prices globally.
- Take advantage of a strong US dollar – The US dollar has been surging in value recently compared to other currencies. This makes American exports very attractively priced worldwide.
- Sell to rapidly expanding middle classes – Developing nations, especially in Asia and Latin America, have fast-growing consumer middle classes hungry for imported products.
Simply put, exporting allows businesses to dramatically expand their addressable market size and sell internationally. Read on as I reveal this year’s most promising export opportunities.
Methodology for Ranking the Best Export Products
I utilized a data-driven approach to generate this list of the top 20 export products for 2024. My ranking methodology analyzed several factors:
- Global import demand trends – Using global import data, I identified categories with the fastest year-over-year growth in demand worldwide. Rapidly rising import demand is a key indicator of hot export potential.
- US domestic production and export capacity – I factored in current US production volumes and export capacity to ensure these products can actually scale to meet global demand. There’s no point recommending exports the US can’t produce enough of!
- Competitiveness of US exporters – Some American-made products are simply more competitive globally based on production costs, reputation, and other attributes. I gave preference to products where the US has an established competitive advantage.
In other words, these 20 export products make the cut due to rapidly rising international demand paired with America’s ability to supply these goods competitively.
Now let’s get to the good stuff – the list!
1. Gas Turbines
- Gas turbines have become enormously popular globally as an aircraft engine component and portable power generation source.
- With best-in-class manufacturers like GE Power Systems and rising applications for gas turbines, international imports grew 8.04% annually from 2019-2023.
- Gas turbines represent a $902 million export market for US manufacturers as of 2023. Export growth is projected to accelerate to 9.3% annually through 2027 as developing countries invest more in power infrastructure.
For US companies positioned in gas turbine manufacturing, exports represent a massive growth avenue to amplify sales and profits.
2. Vaccines
- Vaccines may seem like an obvious export prospect given recent demand spikes from the COVID-19 pandemic.
- However, broader vaccine demand has soared worldwide in recent years as healthcare improves globally. Total vaccine imports grew 7.16% annually from 2019-2023.
- American pharmaceutical giants like Pfizer and Johnson & Johnson are global leaders in vaccine development and production capacity.
- Vaccine exports from the US topped $2.16 billion in 2023. Demand is expected to climb another 8-10% per year from 2024-2027 as more vaccines are added to public health protocols.
Rising populations and healthcare access worldwide fuel this demand, creating a sustainable long-term export boom for American vaccine makers.
3. Medical Devices
Similar to vaccines, improving healthcare access and outcomes in developing regions prompts imports of advanced medical devices.
- Global imports of medical devices like MRI machines, CPAPs, and other equipment rose 6.8% annually in recent years
- The US is renowned for its cutting-edge medical technology innovations, being home to pioneers like Medtronic, Stryker, and Edwards Lifesciences
- High-growth export markets include China, Japan, India, and Latin America
- Expect 8-12% average annual growth in medical device exports through 2027
4. Semi-Conductors
Semiconductors are essential components in virtually every modern electronic device – they enable today’s digital economy.
- Global semi-conductor imports expanded 9.4% annually from 2019-2023, surging over $1 trillion in total import value
- The US is the global leader in semi-conductor technology, being home to Intel, Texas Instruments, and other giants
- With electronics consumption still rising fast worldwide, demand is almost limitless
- The US exported $80 billion in semi-conductors in 2023, projected to reach $130 billion by 2027
America’s competitive edge in semi-conductor design and manufacturing will continue fueling massive export sales.
5. Crude Oil
The world still runs on crude oil, with the global economy greatly dependent on petroleum to function.
- While demand fluctuates year-to-year, developing countries like China and India show net rising oil imports long-term
- America became the world’s largest oil producer again this decade due to shale/fracking boom
- Exporting oil from environmentally regulated US production may appeal over alternatives
- Oil exports hit $140 billion in 2023 – raising production can push this figure higher through 2027 even if prices change
America’s fracking revolution expanded export capacity – oil will likely remain a major US export for years to come.
6. Transistors
Keeping the semi-conductor theme, transistors are another essential electronic component where US manufacturers dominate.
- Global transistor imports hit $55 billion in 2023, rising over 6% a year over the last 5 years
- While commoditized, transistors enable functioning circuit boards inside most electronics
- As developing markets gain more access to electronics, transistor exports will ride this trend
- America’s leading electronics brands have transistor manufacturing down to a science
Similar to semi-conductors, US companies are well positioned to capitalize on this global transistor boom.
7. Corn
Beyond high-tech goods, global demand for agricultural products like corn also opens up mass export opportunities for American farmers.
- Corn imports globally rose 4.2% annually from 2019-2023, driven by developing countries increasing meat consumption
- The US is the global corn king – producing 38% of the world’s corn supply as the largest exporter
- America exported over $11 billion worth of corn in 2023
- Demand is projected to rise another 3-5% annually through 2027
With such massive production capacity, the US dominates the global corn export market with room keep expanding sales.
8. Soybeans
- Another staple crop where US farmers boast a vast production capacity – soybeans are used for animal feed, biofuels, edible oils, and more
- Driven by rising incomes and shifting diets toward more meat, global soybean imports grew 6.1% annually over the past 5 years
- American farmers exported $14 billion worth of soybeans in 2023
- Demand expected to rise 5-8% annually through 2027 as more countries import soy for feedstock
America’s vast stretches of prime farmland will continue driving bumper soybean harvests and exports for years to come.
9. Gold
Beyond agriculture, natural resource exports are another historic US strength – including gold sourced from American mines.
- Gold’s status as a safe haven asset and jewelry keeps demand robust worldwide
- Global gold imports expanded from $235 billion in 2019 to $255 billion in 2023
- Rising prices could spur more production from US gold mines
- Current US gold exports exceed $15 billion annually
There may be even more untapped export potential as the US increases domestic production to tap rising global demand.
10. Automobile Parts
Now let’s discuss traditional American manufacturing strongholds – exports of car parts remain big business as auto production globalizes.
- As production expands in Asia and South America, exports of parts to foreign factories will rise too
- Current auto part exports total around $100 billion annually and support US manufacturing jobs
- Categories like engines, electrical components, mirrors, etc. all have opportunities abroad
- Export growth projected around 3-5% annually
Maintaining competitiveness in manufacturing auto components keeps jobs onshore while tapping global sales too.
11. Aircraft Parts
Similarly, aircraft parts exports ride on increasing plane demand worldwide:
- Total global aircraft part imports expanded over 7% annually from 2019-2023
- Categories like turbo jet engines, airframe parts, landing gear, and more grow quickly
- The aerospace supply chain spans the globe, so parts get exported to wherever planes assemble
- Boeing, GE Aviation, Honeywell, Collins Aerospace etc. all benefit from selling abroad
Given rising air travel globally long-term, aircraft parts exports seem poised for steady growth.
12. Construction Machinery
Sale of heavy machinery for construction, mining, drilling, earth moving and more is big export business:
- Imports expanded 6.8% annually amid fast infrastructure development worldwide
- Category includes cranes, dozers, excavators, drilling rigs, heavy trucks, mining drills, and more
- US manufacturers like Caterpillar, John Deere and CASE are established global players exporting billions overseas
- Solid growth around 6% expected through 2027 with ongoing development projects worldwide
Rising incomes in emerging markets creates demand for construction and mining machinery that American manufacturers can export to serve.
13. Telecommunications Equipment
As developing regions upgrade digital infrastructure, telecom equipment sees soaring demand:
- Total global imports up over 10% annually past 5 years
- Includes categories like mobile towers, antennas, routers, fiber optic cable, etc.
- US home to leading telecom equipment companies exporting globally like Qualcomm and Cisco
- Growth forecast 8-12% through 2027
Expanding mobile coverage and internet access worldwide fuels import demand American telecom manufacturers can capture.
14. Heavy Machinery
Another broader machinery category with big export potential thanks to US expertise:
- Global imports of heavy machinery expanded 9.4% annually recently
- Segment includes generators, industrial motors, bulldozers, forklifts, cranes, and mechanical power transmission equipment
- These are used across various industries like construction, manufacturing, utilities, mining, oil, & gas
- American manufacturing strong suit with Caterpillar, Cummings, Deere etc. competitive
- Export growth projected around 6-9% through 2027 horizon
Advancing manufacturing capabilities worldwide powers demand for importing this type of heavy equipment.
15. Medical Supplies & Gear
Similar to medical devices, demand rises for routine medical supplies like:
- Examination gloves, syringes, needles, catheters, portable x-ray machines, and more
- Imports up 7.4% over past 5 years globally
- Highly competitive US medical supply manufacturing sector exports significantly
- Growth estimate 8-12% next few years amid healthcare access expansion
While not the most glamorous products, expanding healthcare ecosystems worldwide drives exports of these essential medical supplies.
16. Delivery Trucks
Logistics networks expanding globally means more delivery truck demand:
- Global imports up 4.2% annually recently
- Includes light trucks, box trucks, freight trucks, mail trucks, etc.
- US truck manufacturers benefit from established dealer channels abroad
- Leaders like Ford, RAM and Chevrolet positioned well
- Export growth forecast 4-6% as ecommerce boom drives delivery truck purchases
Online shopping requires local last-mile delivery everywhere – American truck makers can supply many markets with popular models.
17. Plastic Polymers
As packaging and plastic products proliferate globally, demand rises for the polymers and beads used to mold plastic:
- Global plastic polymer/bead imports up 5.8% per year past 5 years
- Manufacturing hubs request imports of raw plastic materials to finish products
- Export categories include polyethylene, PVC, PET, polystyrene, polypropylene etc.
- Current exports over $35 billion in 2023 – projecting 4-6% growth next several years
Plastic production is big business worldwide – exporting the raw polymers overseas then re-imports the finished products later.
18. Engines & Motors
The many types of engines and electric motors powering vehicles, machines and devices have broad applications worldwide:
- Recent import growth around 4.2% annually
- Spans auto engines, outboard boat motors, industrial generators, turbos, household appliance motors etc.
- US home to leading manufacturers like Briggs & Stratton engines or GE industrial motors with exporting experience
- $15 billion exports currently – projecting 3-5% growth ahead
As motors and engines get embedded across more products globally, American manufacturers retain solid export opportunities.
19. Navigational & Measurement Instruments
Sophisticated instrumentation enables precise navigation and measurement across many industries:
- Imports rising around 6.1% annually in recent years
- Category includes sonar imaging devices, 3D scanners, laser rangefinders, spectrometers, radars, and more
- Advanced instrumentation requires specialized expertise US manufacturers uniquely possess
- Export growth estimate 5-8% next several years
Cutting-edge instruments developed by American engineers have broad practical applications globally in need of reliable sourcing.
20. Computer Games & Toys
Finally, even traditional consumer product categories benefit from widening international reach:
- Global imports of computer games, toys and children’s products up 3.2% annually
- As developing markets gain discretionary income, game and toy imports rise
- Iconic US brands like Hasbro, Mattel and Activision all export significantly
- $35 billion exports currently – projecting 3-5% ahead
America’s globally loved entertainment brands, as well as innovative toy startups, find receptive export audiences overseas hungry for these fun consumer products.
Tapping into Global Export Opportunities
I hope this list of the top products to export from the USA in 2024 helps spark some export business ideas. The critical next step is developing an international expansion game plan tailored to your capabilities in light of rising global demand.
Here are my top tips for tapping into these export opportunities:
- Conduct market research – Get granular data on specific product demand in target export countries to right-size opportunity
- Secure offshore distributors – Finding local sales partners essential for managing import regulations/logistics
- Modify packaging: Consider adapting branding, labels and packaging to resonate abroad
- Research payment terms – Determine best practices for trade financing, foreign transaction fees etc. by market
- Project working capital needs – Exporting has longer cash conversion cycles from extended shipment terms
- Adapt pricing strategy – Factor in added export costs while remaining competitive in each market
The world awaits American-made products – through methodical preparation, expanding exports abroad can really amplify business results.
I hope this post illuminated some attractive export opportunities worth pursuing today. Let me know in the comments if you have any other questions!
