U.S. Trade Reaches Two-Year High in October
According to last week's BEA report, total U.S. trade with the rest of the world (sales of U.S. products to consumers and firms in other countries PLUS purchases of foreign production by American consumers and businesses) reached a two-year high of $356.1 billion in October. This was the highest level of total trade since October 2008, and is more than $100 billion and 44.7% above the April 2009 cyclical low of $246 billion (see chart above).
Further, the combined international trade volume for U.S. buyers and sellers has increased in 13 out of the last 17 months (following ten consecutive declines), providing further evidence that the economy started on a recovery path last summer and continues to make solid gains almost every month. Both the sales of U.S. goods and services produced by American firms and sold to the rest of the world, and the purchases of foreign-produced goods and services by American consumers and firms, have been on an upward trend as the U.S. and global economies recover.
1 Comments:
If one combines exports and imports into one grand trade number then criticism of trade practices must necessarily follow. Why? In the the previous set-up of separating imports from exports one might criticize the U.S. for trade retaliation. Criticism of the mercantilist, who exports to the U.S., would be quiet because they were merely benefiting U.S. consumers.
When trade in general suffers from mercantilist practices then the once quiet ones must criticize. They must criticize because trade is suffering and trade numbers are held back and stifled by the mercantilist.
If you are going to combine trade and exports then you have to combine criticism of all the governments involved and not just the U.S.
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