EXPORTS, IMPORTS, and TRADE BALANCE

KEY TRENDS

• In 2004 the U.S. trade deficit for chemicals and related products improved for the first time during the 2000–2004 period.
  
  
• U.S. chemical industry sales and profits both rose significantly in 2004 due to increased demand and increased worker productivity.
  
  
• There was continued strength in U.S. pharmaceutical imports from Ireland, although these imports declined in 2004 for the first time during 2000–2004.

TRADE SHIFTS in 2004 from 2003

• U.S. trade deficit: Decreased $1.3 billion (6 percent) to $20.3 billion
• U.S. exports: Increased $19.1 billion (19 percent) to $121.4 billion
• U.S. imports: Increased $17.8 billion (14 percent) to $141.7 billion
• Organic Commodity Chemicals, Medicinal Chemicals, and Miscellaneous Plastic Products exhibited the largest shifts.
  
  

LINKS

USITC PUBLICATIONS

Industry Trade and Technology Review

• Radioisotopes: Medical Breakthroughs but Concerns About Availability, Foreign Dependence, and National Security

OTHER GOVERNMENT RESOURCES
U.S. Department of Commerce, International Trade Administration

• Pharmaceuticals and Biotechnology Team

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