1. Overview of U.S. trade
Data is 2000
2002 recently available and complete
2003 sometimes available but expect revisions
All of these charts and graphs are in the binder – don’t need to copy info
Can update from links on each page in the binder
Purpose here is just to get a general overview of what we trade and with whom

2. Trade Choices You have $1,000 to spend and your alternatives are to:
Purchase one U.S. made television and one U.S. made bicycle. or
Purchase one Chinese made television, one Korean made bicycle and two cases of French wine.
Use the $1,000 for investment in the stock of a Canadian company.
Which do you choose to do?

3. Voluntary
Trade
Creates
Wealth

4. Apples and Oranges Apple price $.70/lb Orange Price $.70/lb
Washington Rancher
20 acres yields
Apples 50 bu/acre
Oranges 1bu/acre
Florida Rancher
Apples 2bu/acre
Oranges 40 bu/acre

5. U.S. GDP and Trade Nominal $$ billions
Year
GDP
Total Exports
Total Imports
2005
1,093
1,286
2,000
2008
14,418
1,841
2,550
2009
1,583
1,966
2010
14,964
1,853
2,348
2011
15,517
2,127
2,675
2012
16,155
2,218
2,755
2013
16,691
2,293
2014
17,393
2,376
2,866
2015
18,036
2,261
2,761

6. U.S. Exports and Imports
Imports
Exports
Bea.gov

7. Top Trading Partners 2015 Data are goods only, in billions of dollars
Rank
Country
Exports
Imports
Total Trade
Percent of Total Trade
Total, All Countries
1,504.9
2,241.1
3,746.0
100.0% 1
China
116.2
481.9
598.1
16.0% 2
Canada
280.3
295.2
575.5
15.4% 3
Mexico
236.4
294.7
531.1
14.2% 4
Japan
62.5
131.1
193.6
5.2% 5
Germany
49.9
124.1
174.1
4.6% 6
Korea, South
43.5
71.8
115.3
3.1% 7
United Kingdom
56.4
57.8
114.2
3.0% 8
France
30.1
47.6
77.7
2.1% 9
Taiwan
25.9
40.7
66.6
1.8% 10
India
21.5
44.7
66.3
Bea.gov

8. Trade with Canada, 2015 in billions of dollars
1-Digit SITC Commodity
Exports
Imports
0 Food and Live Animals
21.4
21.5
1 Beverages and Tobacco
2.0
0.9
2 Crude Materials, Inedible, except Fuels
6.5
11.9
3 Mineral Fuels, Lubricants and Related Materials
21.2
74.7
4 Animal and Vegetable Oils, Fats and Waxes
0.4
1.6
5 Chemicals and Related Products
31.3
27.1
6 Manufactured Goods Classified Chiefly by Material
34.4
38.2
7 Machinery and Transport Equipment
124.1
92.1
8 Miscellaneous Manufactured Articles
28.4
14.1
9 Commodities and Transactions, N.C.E.
19.8
* TOTAL *
280.0
302.1
tse.export.gov

9. Trade with Mexico, 2015 in billions of dollars 1-Digit SITC Commodity
Exports
Imports
0 Food and Live Animals
14.0
18.7
1 Beverages and Tobacco .5
4.4
2 Crude Materials, Inedible, except Fuels
8.0
1.4
3 Mineral Fuels, Lubricants and Related Materials
18.5
13.9
4 Animal and Vegetable Oils, Fats and Waxes
0.6
0.1
5 Chemicals and Related Products
26.3
6.0
6 Manufactured Goods Classified Chiefly by Material
31.3
19.5
7 Machinery and Transport Equipment
111.4
188.7
8 Miscellaneous Manufactured Articles
18.2
32.9
9 Commodities and Transactions, N.C.E.
7.2
11.4
* TOTAL *
236.3
297.5
tse.export.gov

10. Trade with China, 2015 in billions of dollars
1-Digit SITC Commodity
Exports
Imports
0 Food and Live Animals
7.5
5.9
1 Beverages and Tobacco
0.3
0.07
2 Crude Materials, Inedible, except Fuels
24.2
2.2
3 Mineral Fuels, Lubricants and Related Materials
0.5
4 Animal and Vegetable Oils, Fats and Waxes
0.4
0.06
5 Chemicals and Related Products
13.8
16.7
6 Manufactured Goods Classified Chiefly by Material
5.0
57.5
7 Machinery and Transport Equipment
52.3
255.5
8 Miscellaneous Manufactured Articles
9.4
159.0
9 Commodities and Transactions, N.C.E.
1.0
4.9
* TOTAL *
116.1
502.6
tse.export.gov

11. Export of Goods by Principle End-Use Category 2015

12. Imports of Goods by End-Use Category 2015

13. .U.S. Services Exports 2015

14. U.S. Service Imports 2015

15. Sources of U. S. Imports 2015

16. Destination of U.S. Exports 2015

17.
Kenneth Leonard PhD
Foundation for Teaching Economics

18. NAFTA
NAFTA 20 Years After: Neither Miracle nor Disaster

19. U. S. Goods Trade Balance With Other Nations, 2015
($US - billions)
Country
Exports
Imports
Trade Balance
Canada
280
295
-15
Mexico
236
294
-58
China
116
442
-326
Japan 62
131
-69
Germany 50
124
-74
South Korea 43 72
-29 UK 56 57 -3
France 30 47
-17
Taiwan 26 41

20. Goods & Services exports 2,280,194 Goods & Services imports -2,756,586
U.S. Balance of Payments 2013
($ millions)
Current Account ,254
Goods & Services exports ,280,194
Goods 1,561,835; Services 687,410
Goods & Services imports ,756,586
Goods -2,294,453; Services -462,134
Net Transfers ,516
Net Income Payments ,654
Capital Account ,254
U.S. Owned Assets Abroad ,763
Other investment
Foreign Owned Assets in the U.S ,017,669
Statistical Discrepancy

21. International Comparisons of Hourly Compensation Costs in Manufacturing