EXPORTS, IMPORTS, and TRADE BALANCE

Key Trends

• The U.S. merchandise trade deficit with China grew by $40.2 billion to $203.8 billion in 2005.

• U.S. exports to China continued to grow in 2005, increasing by approximately $6.3 billion (19 percent). The most significant increase in U.S. exports in absolute terms was in the transportation sector, followed by minerals and metals, and electronic products.

• U.S. imports from China increased by almost $46.5 billion (24 percent) in 2005 to $242.6 billion. The three sectors that experienced the largest growth were electronic products, textiles and apparel, and miscellaneous manufactures. These three sectors combined accounted for over 67 percent (electronic products, 38 percent; textiles and apparel, 17 percent) of the total increase in U.S. imports from China in 2005.

• Strong demand for telecommunications products contributed to the $4.9 billion growth in these imports from China in 2005. Factors such as converging technologies, industry consolidation, and increased wireless usage have contributed to growth in the telecommunications sector.
  

TRADE SHIFTS in 2005 from 2004

• U.S. trade deficit: Increased $40.2 billion (25 percent) to $203.8 billion
• U.S. exports: Increased $6.3 billion (19 percent) to $38.9 billion
• U.S. imports: Increased $46.5 billion (24 percent) to $242.6 billion
  
  

LINKS

USITC PUBLICATIONS
International Economic Review

• Energy Use in China: Trends in Oil Demand and Imports

OTHER GOVERNMENT RESOURCES
U.S. Department of Energy, Energy Information Administration

• Country Analysis Brief - China

U.S. Department of State

• Background Note - China

U.S. Department of Commerce, Office of China Economic Area

• China Gateway

People's Republic of China, Ministry of Foreign Affairs

• Office of North America and Oceania

People's Republic of China, Ministry of Commerce

• Gateway to China's Business

Congressional Budget Office

• Economic Relationships Between the United States and China

SECTOR SHIFTS

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

COUNTRY SHIFTS