New U.S. Census tool reveals supply-chain disruption insights
The Trade by Industry and Product Statistics for 2021 and 2022 are now available.
The U.S. Census Bureau just launched a new experimental data product that combines information about industries engaged in international trade with the types of products they import and export.
The Trade by Industry and Product Statistics (TIPS) data set is now available for 2021 and 2022.
TIPS combines product-level international trade data with industry-level data from the Business Register, the bureau’s database of U.S. businesses. It expands on the Profile of U.S. Importing and Exporting Companies, which provides statistics about businesses that import and export goods.
To illustrate the functionality of the product, the bureau used as an example lithium-ion batteries, which power just about everything, from smartphones to household appliances, power tools and vehicles. Demand for lithium-ion batteries has surged since the COVID-19 pandemic, and there is growing concern over risks to the lithium-ion battery supply chain and potential shortages that could affect numerous industries and even national security.
In 2023, the U.S. imported $18.6 billion worth of lithium-ion batteries (Harmonized System code: 850760), nearly four times the value imported in 2020. However, not all lithium-ion batteries are the same. For example, the lithium-ion batteries for electric vehicles are different from those used in smartphones, which means lithium-ion battery supply chains may differ by industry.
Using TIPS, it is possible to identify which industries would be hardest hit by shortages. The top importers are motor vehicle manufacturing, household and electronic goods wholesalers, electrical equipment manufacturing, electrical component manufacturing, and hardware and HVAC wholesalers.
TIPS allows users to compare the value of lithium-ion imports by industry and how it changed from 2021 to 2022. In 2022, motor vehicle manufacturers imported more than double the value of lithium-ion batteries imported by household and electronic goods wholesalers. The data also shows that imports by motor vehicle manufacturers more than tripled, while other industries’ imports remained relatively stable.
TIPS also reveals the product types and values imported by specific industries. For example, users can explore what other products motor vehicle manufacturers import.
In addition to imports, TIPS includes data about exports from 2021 and 2022. Using the lithium-ion battery example, users could, among other things, look up which industries exported lithium-ion batteries and what other products motor vehicle manufacturers exported.
Users can also link TIPS to other U.S. Census Bureau data to expand their understanding of the supply chain.
