Chapter 5 Web Question 1
According to the U.S. Census Bureau the top ten trading partners year to date as of May which is
the most recent data available are as follows:
Canada, China, Mexico, Japan, Federal Republic
of Germany, United Kingdom, South Korea, France, Netherlands, and Brazil.
represent 65.54% of the United States Imports and 60.53% of the United States Exports in goods.
The top ten countries with a trade surplus with the U.S. year to date as of May 2009 are
Netherlands, Hong Kong, Australia, Belgium, United Arab Emirates, Switzerland, Brazil, Chile,
Turkey, and Singapore.
The top ten countries with a deficit in trade with the U.S. are China,
Mexico, Japan, Ireland, Russia, Federal Republic of Germany, Venezuela, Saudi Arabia,
Malaysia, and Italy.
The deficit and surplus countries are not by any means equally represented in the 10 trading
There are four countries represented in both the trading countries and the
countries with a trade deficit.
There are only two countries that are on both the trading partner
list and the surplus list.
In looking for a relationship between the overrepresentation on the deficit list I found that there
may be no real explanation since there still is representation among both the surplus countries
and the deficit countries.
There is a myth that Unfair Trade Barriers Cause Trade Deficits.
However this is put to the test by a survey of America's major trading partners.
basically says that because there is a representation on both the surplus list and the deficit list of
America’s trading partners the relationship is unfounded.
I think it may be more important to look at the relationship between the total percentage of