EXPORTS, IMPORTS, and TRADE BALANCE

KEY TRENDS

• In 2004 the overall U.S. trade deficit in energy and related products increased 33 percent because of the rise in prices for crude petroleum and natural gas.
  
  
• The U.S. trade deficit in crude petroleum increased 36 percent in 2004. In terms of quantity, however, U.S. imports of crude petroleum rose only 3 percent.
  
  
• The U.S. trade deficit in natural gas and components increased 17 percent in 2004 because of continued tight supplies and rising prices. In terms of quantity, U.S. imports rose 5 percent, with most U.S. trade being predominately with Canada.

TRADE SHIFTS in 2004 from 2003

• U.S. trade deficit: Increased $43.2 billion (33 percent) to $173.8 billion
• U.S. exports: Increased $5.1 billion (31 percent) to $21.8 billion
• U.S. imports: Increased $48.4 billion (33 percent) to $195.6 billion
• Crude Petroleum, Petroleum Products, and Natural Gas and Components exhibited the largest shifts.

LINKS

• Energy Information Agency

U.S. Department of Commerce, International Trade Administration

• Energy Industries 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