Exports, Imports and Trade Balance
- The U.S. merchandise trade deficit in electronic products increased for the fifth consecutive year in 2006, primarily because of a surge in imports of computers, television receivers and video monitors, and telephone and telegraph apparatus.
- U.S. exports increased by 9 percent to $169.2 billion, principally semiconductors, medical goods, and testing, measuring, and controlling instruments. Exports of semiconductors grew as a result of healthy global conditions, which created strong demand from foreign electronic systems producers. Increases in U.S. medical goods exports were driven by demand for the latest U.S. innovations in cardiovascular and orthopedic products.
- Declining prices and continued domestic demand for computer products, especially portable products such as laptop PCs, drove U.S. imports of computers, peripherals, and parts. The popularity of flat-panel display color televison receivers and video monitors fueled increased imports, and the significant growth in the U.S. telecommunications services market prompted increased imports of telecommunications equipment.
- Leading sources in 2006 for electronic products were China, Mexico, and Japan. Leading export markets were Canada, Mexico, Japan, and China.
Trade Shifts in 2006 from 2005
- U.S. trade deficit: Increased $13.0 billion (9 percent) to $162.8 billion
- U.S. exports: Increased $13.8 billion (9 percent) to $169.2 billion
- U.S. imports: Increased $26.8 billion (9 percent) to $332.1 billion
- Medical Devices and Equipment: Competitive Conditions Affecting U.S. Trade in Japan and Other Principal Foreign Markets, Inv. No. 332-474, Pub. 3909; Mar.2007
Industry and Trade Summary