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Richmans' Trade and Taxes Blog
No growth in US goods exports to China in 2009
Howard Richman, 2/11/2010
According to preliminary trade statistics released by the Bureau of Economic Analysis on February 10, U.S. goods exports to China shrunk by a miniscule .002% in 2009 while U.S. goods imports from China shank by a massive 12.2%. These statistics reflect the relative growth rates of the two economies, as shown in the following table:
| Country | Nominal GDP Growth Rate | Goods Import Growth Rate |
| China | 8.7% | -0.002% |
| United States | -1.26% | -12.2% |
The following table displays the actual trade data:
| Year | US Goods Exports to China | US Goods Imports from China |
| 2008 | $69.733 billion | $337.773 billion |
| 2009 | $69.576 billion | $296.402 billion |
Next year, Amercan GDP is expected to grow, so our goods imports from China can be expected to grow. Chinese GDP is also expected to grow next year, so its goods imports from the United States can be expected to stay about the same.
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- Calla Wiemer misunderstands Chinese mercantilism in Wall Street Journal
- Levy Economics Institute's analysis of Import Certificates to balance trade
- US wins WTO appeal on China's non-tariff barriers against US movies, music, and games
- Prof. Krugman and Chinese Mercantilism
- China agrees to modify export subsidies
Outside Links:
Wikipedia:
Journal of Economic Literature:
Atlantic Economic Journal: