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
1995
7,415
794
891
2000
9,952
1,073
1,450
2005
12,623
1,287
1,996
2006
13,377
1,459
2,213
2007
14,028
1,655
2,351
2008
14,291
1,843
2,541
2009
13,939
1,575
1,956
2010
14,526
1,837
2,337
2011
15,075
2,103
2,663

9. Total Trade: Exports Plus Imports Rank by Exports( US $--billions)
Top U.S. Trade Partners
Total Trade: Exports Plus Imports
Rank by Exports( US $--billions)
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Canada
410
381
371
394
445
499
533
566
600
431
527
596
Mexico
247
233
232
236
267
290
332
347
367
306
393
461
China
116
122
147
181
231
285
343
384
408
366
457
503
Japan
211
184
173
170
193
207
206
204
195
Germany 88 89 97
109
119
130
143
152
114
148 UK 85 82 74 77 90 98
107
172 93
S Korea 65 51 49 56 57 78 33 68
100
France 50 47 46 53 61 73 60

10. Trade with Canada, 2011 in billions of dollars
1-Digit SITC Commodity
Exports
Imports
0 Food and Live Animals
19.7
17.4
1 Beverages and Tobacco
1.4
0.85
2 Crude Materials, Inedible, except Fuels
8.2
11.8
3 Mineral Fuels, Lubricants and Related Materials
18.3
101.9
4 Animal and Vegetable Oils, Fats and Waxes
0.6
1.2
5 Chemicals and Related Products, N.E.S.
32.4
28.1
6 Manufactured Goods Classified Chiefly by Material
38.7
40.4
7 Machinery and Transport Equipment
124.6
83.3
8 Miscellaneous Manufactured Articles
29.2
13.2
9 Commodities and Transactions, N.E.S.
7.7
16.3
* TOTAL *
280.8
314.5
tse.export.gov

11. Trade with Mexico, 2011 in billions of dollars 1-Digit SITC Commodity
Exports
Imports
0 Food and Live Animals
13.7
14.0
1 Beverages and Tobacco
0.6
2.8
2 Crude Materials, Inedible, except Fuels
7.3
1.9
3 Mineral Fuels, Lubricants and Related Materials
23.6
44.0
4 Animal and Vegetable Oils, Fats and Waxes
0.9
0.07
5 Chemicals and Related Products, N.E.S.
23.5
4.8
6 Manufactured Goods Classified Chiefly by Material
25.0
19.0
7 Machinery and Transport Equipment
84.0
139.5
8 Miscellaneous Manufactured Articles
13.8
24.5
9 Commodities and Transactions, N.E.S.
6.2
12.4
* TOTAL *
198.6
263.0
tse.export.gov

12. Trade with China, 2011 in billions of dollars
1-Digit SITC Commodity
Exports
Imports
0 Food and Live Animals
4.9
5.6
1 Beverages and Tobacco
0.2
0.04
2 Crude Materials, Inedible, except Fuels
32.3
1.9
3 Mineral Fuels, Lubricants and Related Materials
2.0
0.5
4 Animal and Vegetable Oils, Fats and Waxes
5 Chemicals and Related Products, N.E.S.
14.4
13.9
6 Manufactured Goods Classified Chiefly by Material
5.4
42.4
7 Machinery and Transport Equipment
36.4
202.0
8 Miscellaneous Manufactured Articles
7.1
128.9
9 Commodities and Transactions, N.E.S.
1.0
4.2
* TOTAL *
103.9
399.5
tse.export.gov

17. Merchandise trade balance -695.9 Goods & Services exports 1,826.6
U.S. Balance of Payments 2008
($ billions)
Current Account
Merchandise trade balance
Goods & Services exports 1,826.6
Goods & Services imports -2,522.5
Net Transfers
Net Income Payments
Capital Account
Increase in U.S. holdings of foreign assets
Increase in Foreign holdings of U.S. assets ,166
Statistical Discrepancy

20. U. S. Goods Trade Balance With Other Nations, 2011
($US - billions)
Country
Exports
Imports
Trade Balance
Canada
281
315
-34
Mexico
198
263
-65
China
104
399
-295
Japan 66
129
-63
Germany 49 99
-50 EU
268
368
-100
Taiwan 26 41
-15
South Korea 43 57
-14
France 28 40
-12

21. Goods & Services exports 2,103,367 Goods & Services imports -2,663,247
U.S. Balance of Payments 2011
($ millions)
Current Account ,926
Goods & Services exports ,103,367
Goods 1,497,406; Services 605,961
Goods & Services imports ,663,247
Goods -2,235,819; Services -427,428
Net Transfers ,053
Net Income Payments ,007
Capital Account ,926
U.S. Owned Assets Abroad ,653
Foreign Owned Assets in the U.S ,009,900
Capital Transactions ,212
Statistical Discrepancy ,208

22. http://bea.gov Destinations of U.S. Foreign Direct Investment 2011
(percent)
Sources of Foreign Direct Investment in the United States
United Kingdom 13 17
Canada 8
Japan* 11
Netherlands 14 9
Japan 3
Germany
France
Australia
Switzerland
Bermuda
Luxembourg 7 2
**2008  

23. Statistical Comparison of NAFTA Countries, 1997 (In current U.S. $$)
Population
(millions)
GDP
(billions U.S.$)
per capita
Exports
(billions $)
Imports
Canada
29.9
637.5
21,260
250.6
238.5
Mexico
95.4
401.4
4,207
121.6
122.4
U.S.
272.6
8,265.0
30,282
934.8
1,042.7
Statistical Comparison of NAFTA Countries, 2011
(In current U.S. $$)
Population
(millions)
GDP
(billions U.S.$)
per capita
Exports
(billions $)
Imports
(billion $)
Canada
34.5
1,736.0
50,345
539.1
561.9
Mexico
114.8
1,153.3
10,047
365.2
380.6
U.S.
311.6
14,991.3
48,112
2,105
2,665.0

24. Hourly Compensation Costs for Workers
in Manufacturing, Selected Countries, 2011 (current dollars)
Labor Costs
(in $ U.S.)
United States
Canada
France
Germany
Italy
Japan
United Kingdom
Korea
Mexico
Singapore
Philippines v