Shifts in U.S Merchandise Trade 2007

About this Report

Publication No. 4044
Investigation No. 332-345
Date: December 2008
View Section in Publication

Click here to order CD-ROM

 

This site provides analysis, data, and information resources showing competitive aspects of U.S. merchandise trade trends on a country and sector basis.

Exports, Imports and Trade Balance

 

 

Key Economic Events

  • The depreciation of the U.S. dollar against currencies of major trading partners, real income growth in foreign trading partners, and slower U.S. real income growth increased the U.S. export rate and decreased the import growth rate, reducing the U.S. merchandise trade deficit.
  • In 2007, U.S. merchandise exports reached a record level with every sector except textiles and apparel experiencing export growth. The transportation equipment sector saw the largest increase in absolute terms, while chemicals and related products, agricultural products, and minerals and metals also saw significant growth.
  • U.S. merchandise imports increased in all sectors with the exception of forest products. Energy-related products saw the largest net import increase in 2007 due to higher world prices and increased demand in the energy sector.
  • Canada, China, Mexico, and Japan accounted for 60 percent of the U.S. merchandise trade deficit in 2007. China alone accounted for nearly 30 percent of the trade deficit, while the trade deficits with Canada and Japan declined.

Trade Shifts in 2007 from 2006

  • U.S. trade deficit: Decreased by 19.1 billion (2 percent) to $896.5 billion
  • U.S. exports: Increased by $116.9 billion (13 percent) to $1.0 trillion
  • U.S. imports: Decreased by $97.8 billion (5 percent) to $1.9 trillion

Sector Shifts

This part of the report examines shifts in trade for tenmerchandise sectors: agriculture; chemicals and related products; electronic products; energy-related products; forest products; machinery; minerals and metals; miscellaneous manfactures; textiles, apparel, and footwear; and transportation equipment. The following links download as PDF files.

Agricultural Products :: Chemicals and Related Products :: Electronic Products :: Energy and Related Products :: Forest Products :: Machinery :: Minerals and Metals :: Miscellaneous Manufactures :: Textiles, Apparel, and Footwear :: Transportation Equipment

Country Shifts

This part of the report analyzes shifts in trade between the United States and seven significant trading partners. The following links download as PDF files.

Brazil :: Canada :: China :: European Union :: India :: Japan :: Mexico

Frequently Asked Questions

General Contact

John Kitzmiller
Project Leader
Phone: 202.205.3387

Daniel Cook
Assistant Project Leader
Phone: 202.205.3463

Media Contact

Peg O'Laughlin
Public Affairs Officer
Phone: 202.205.1819