EXPORTS, IMPORTS, and TRADE BALANCE

KEY TRENDS

• The trade deficit in certain motor-vehicle parts rose 39 percent to $7.3 billion in 2004 as imports from leading suppliers with strong links to the U.S.-based motor vehicle industry experienced further growth.
  
  
• Producers in NAFTA partners Canada and Mexico manufacture a wide variety of vehicle components that not only incorporate significant U.S. content, but are often used in the assembly of U.S.-made vehicles, contributing to large bilateral trade flows with the United States.
  
  
• Construction and mining equipment manufacturers are highly globalized, with large multinational companies sourcing from their production locations worldwide.
  
  
• Demand for construction and mining equipment was spurred by low interest rates that encouraged residential and non-residential construction and infrastructure improvements and by high prices for fuels, minerals, and metals that prompted greater exploration and development of these resources.
  
  
• In 2004 the U.S. trade surplus in aircraft engines, other gas turbines, and parts increased primarily because of a $3.0 billion (20 percent) increase in U.S. exports of parts for such engines.

TRADE SHIFTS in 2004 from 2003

• U.S. trade deficit: Increased $8.6 billion (10 percent) to $97.9 billion
• U.S. exports: Increased $13.0 billion (9 percent) to $155.9 billion
• U.S. imports: Increased $21.6 billion (9 percent) to $253.8 billion
• Aircraft Engines, Other Gas Turbines, and Parts Thereof; Construction and Mining Equipment; Motor Vehicles; and Certain Motor-Vehicle Parts exhibited the largest shifts.
  
  

LINKS

USITC PUBLICATIONS
Industry Trade and Technology Review

• Powder Metallurgy and Advanced Aluminum Sheet Processing: Applications of Advanced Technology in the Automotive Industry

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

• Office of Aerospace Industries
• Office of Automotive Team

U.S. Department of Transportation, Federal Aviation Administration

• Aviation Policy and Plans

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