23MeierPP05_18e - Chapter 5 Chapter 5 The United States in...

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Unformatted text preview: Chapter 5 Chapter 5 The United States in the Global Economy INTERNATIONAL TRADE INTERNATIONAL TRADE Terms Terms Exports Imports Net Exports Balance of trade surplus Balance of trade deficit TRADE PATTERNS TRADE PATTERNS United States United States Volume of trade Percentage of GDP Trading partners Major exports Major imports VOLUME OF TRADE VOLUME OF TRADE United States United States Exports (2000 dollars) 1975 - $225 billion 2007 - $1410 billion Imports (2000 dollars) 1975 - $227 billion 2007 - $1965 billion PERCENTAGE OF GDP PERCENTAGE OF GDP United States United States Exports (2000 dollars) 1975 - 4.8% 2007 - 12 % Imports (2000 dollars) 1975 - 5% 2007 - 17% TRADING PARTNERS TRADING PARTNERS United States United States Canada Canada is the leading trading partner is the leading trading partner of the U.S. (by country; considering of the U.S. (by country; considering exports and imports together) exports and imports together) 22% of exports; 16% of imports 22% of exports; 16% of imports About half of U.S. trade is with About half of U.S. trade is with industrial countries; about half with industrial countries; about half with developing countries, including OPEC developing countries, including OPEC MAJOR U.S. EXPORTS - 2007 MAJOR U.S. EXPORTS - 2007 Chemicals Agricultural products Consumer durables Semiconductors Aircraft Fuels and lubricants Automobiles Computers Generating equipment Medical equipment MAJOR U.S. IMPORTS - 2005 MAJOR U.S. IMPORTS - 2005 Petroleum Automobiles Metals Household appliances Computers Consumer electronics Clothing Chemicals Generating equipment Aircraft MACRO BENEFITS OF TRADE...
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This note was uploaded on 02/22/2011 for the course ECON 2023 taught by Professor Meier during the Spring '11 term at St. Petersburg College.

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23MeierPP05_18e - Chapter 5 Chapter 5 The United States in...

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