TIPS Combines Data on Imports and Exports by Product and by Industry

When an event disrupts the supply chain, how do we know which industries are most impacted by product shortages?

A new U.S. Census Bureau experimental data product, the Trade by Industry and Product Statistics (TIPS), provides unique information: it combines the types of industries engaged in international trade and the types of products they import and export. TIPS data are currently available for 2021 and 2022.

TIPS accomplishes this by combining product-level International Trade data with industry-level data from the Business Register — the Census Bureau’s database of all businesses across the United States. TIPS expands upon the Profile of U.S. Importing and Exporting Companies which provides statistics about businesses that import and export goods.

Let’s dig into an example using TIPS and the International Trade data. Lithium-ion batteries are essential goods powering everything from smart phones to household appliances, power tools and vehicles. Since the COVID-19 pandemic, demand for lithium-ion batteries has surged.

A new U.S. Census Bureau experimental data product, the Trade by Industry and Product Statistics (TIPS), provides unique information: it combines the types of industries engaged in international trade and the types of products they import and export.

The United States imported $18.6B of lithium-ion batteries (Harmonized System code: 850760) in 2023, nearly quadruple the value imported in 2020 (Figure 1). At the same time, there is growing concern over risks to the lithium-ion battery supply chain and potential shortages that could impact numerous industries and even national security.

But not all lithium-ion batteries are created equal. For example, the lithium-ion batteries used in electric vehicles are different from those used in smart phones, which means lithium-ion battery supply chains may differ by industry.

So, which industries will be hardest hit by shortages? That’s what stakeholders across the country — in government, private sector and the general public — want to know.

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