US Copper Exports & Imports in 2007
American Copper Shipments Gain 14.4% Fuelled by Asian Demand
Sep 9, 2008
In the United States, about 58% of copper is used for electrical wiring while 22% of the reddish-brown metal is an important component of corrosion-resistant tubing including water pipes. Heat transfer devices like radiators as well as support and roofing are often made from copper.
U.S. building construction accounts for almost half of America’s total consumption of copper while electrical and electronic products require close to 25%. Transportation equipment, consumer products and industrial machinery are responsible for about 30% of overall U.S. copper needs.
While the American economy depends on copper imported from around the world, the U.S. also exports a significant amount of the metal. In fact, U.S. copper exports are increasing at a faster rate than copper imports.
The analysis below first shows the countries importing the most American copper and then examines those nations shipping the most copper to the U.S.
Top Countries for US Copper Exports
Sales of complete copper from America to the rest of the world were US$5.4 billion in 2007. The following 10 countries bought 93.3% of total U.S. copper exports in 2007.
- China … US$2.5 billion (45.9% of total US copper exports)
- Canada … $1.1 billion (19.7%)
- Mexico … $341.1 million (6.34%)
- South Korea … $338.7 million (6.3%)
- Japan … $284.3 million (5.3%)
- Germany … $142 million (2.64%)
- Hong Kong … $137.8 million (2.57%)
- Taiwan … $105.2 million (2%)
- India … $81.6 million (1.5%)
- Belgium … $54.8 million (1%).
Fastest-Growing Consumers of US Copper
Last year, American copper exports to the world rose 14.4% from 2006 and were up 256.1% since 2003. With the exception of Belgium, U.S. copper exports to Asian nations gained at the fastest rates.
- South Korea … Up 48.4% from 2006; Up 357.4% from 2003
- Belgium … Up 37.7%; Up 220.8%
- Hong Kong … Up 34.1%; Up 303.6%
- China … Up 32.7%; Up 294.6%
- Japan … Up 28%; Up 404.6%.
Fastest-Declining Consumers of US Copper
Led by Taiwan, the following countries bought less copper from the U.S. last year.
- Taiwan … Down 44.5% from 2006; Up 131.4% from 2003
- Mexico … Down 16.9%; Up 124.6%
- India … Down 15.7%; Up 43.8%
- Germany … Down 9.2%; Up 268.9%
- Canada … Down 4%; Up 284.7%.
Top Countries for Supplying Copper to US
America imported US$7.8 billion worth of copper in 2007. The top 10 providers listed below generate nearly 99% of US copper imports.
- Chile … US$3.3 billion (42.5% of total US copper imports)
- Canada … $2.6 billion (32.9%)
- Peru … $965.6 million (12.4%)
- Mexico … $532 million (6.8%)
- Germany … $111.4 million (1.4%)
- Brazil … $93.1 million (1.2%)
- Japan … $63.4 million (0.8%)
- Spain … $32.2 million (0.4%)
- China … $11.4 million (0.15%)
- Finland … $8.3 million (0.11%).
Fastest-Growing Copper Suppliers to US
American copper imports from the world fell 4.7% last year from the prior year but were up 336% since 2003. Among the top 10 exporters of copper to America, Spanish copper exports to the U.S. rose at the steepest rate.
- Spain … Up 23,037% from 2006; Up 7,860% from 2003
- Mexico … Up 85.6%; Up 377.7%
- Canada … Up 30.7%; Up 265.7%
- Finland … Up 26.3%; Up 376.8%
- China … Up 14.1%; Up 723.3%.
Fastest-Declining Copper Suppliers to US
The following countries exported less copper into the U.S. last year, with Germany showing the highest percentage decline.
- Germany … Down 39.4% from 2006; Up 166.2% from 2003
- Brazil … Down 25.1%; Up 398.7%
- Chile … Down 18.9%; Up 740.9%
- Peru … Down 4%; Up 125.7%
- Japan … Down 0.3%; Up 143.1%.
Sources for this Article
This article presents independent calculations and insights based on data drawn from the U.S. Census Bureau – Foreign Trade Statistics and the Copper Development Association.
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