Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
No growth in US goods exports to China in 2009
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:
The following table displays the actual trade data:
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.
Journal of Economic Literature:
Atlantic Economic Journal: