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Richmans' Trade and Taxes Blog
U.S. exports down in January
Howard Richman, 3/12/2010
According to preliminary trade statistics released yesterday by the Bureau of Economics Analysis, U.S. exports decreased from $143.2 billion in December to $142.7 billion in January, showing that President Obama's plan to double U.S. exports over the next five years is off to a rocky start.
Meanwhile, U.S. imports in January went down even more, from $183.1 billion in December to $180.0 billion in January, suggesting that the American economy is headed downward into another recession.
The good news is that the U.S. trade deficit went down. It should continue to go down so long as the United States economy deteriorates even faster than the world economy.
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- Rogoff predicts a U.S. Debt Crisis
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