In 1992, the trade deficit was $44 billion dollars less than July’s trade report by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. While cutting spending has dominated the economic policy headlines, the other major impediment to growth and balancing the U.S budget isn’t being even looked at…
July’s trade imbalance was at (US$) $44.8 billion. Exports were at $178 billion and imports were at $222.8 billion.
Balance of goods and services is therefore -$44.8 billion. This is a decrease in imports from the month before of $0.5 billion. June imports were $223.4 billion.
Goods and service trade deficit has been increasing steadily along with the increasing value of the dollar.
In July 2010 the balance of goods and services was at -$41.6 billion or a trade deficit increase of 7.7 percent.
Trade deficit has been persistent and drastically increasing over the last 30 years. In 1992, the balance of goods and services or trade deficit was $831 million.
As demonstrated by the chart below, US has seen the trade deficit exploded an additional $44 billion dollars.
Emerging markets fueled by a large, educated work force, a rising dollar, less trade restriction, fewer tariffs, and possible currency manipulation have all factored in creating the trade deficit.
“Made in America” has always implied higher wages but also lower national deficits through healthy exports levels.
While the GDP has grown over the last twenty years, so has the trade deficit. Ultimately, the debt borrowed to continue the trade deficit is weighing down the overall economy.
Long term growth will seem to desire a reduced trade deficit in the coming years. Overall economic policy cannot survive without somehow addressing this key issue.
economynews.us
July’s trade imbalance was at (US$) $44.8 billion. Exports were at $178 billion and imports were at $222.8 billion.
Balance of goods and services is therefore -$44.8 billion. This is a decrease in imports from the month before of $0.5 billion. June imports were $223.4 billion.
Goods and service trade deficit has been increasing steadily along with the increasing value of the dollar.
In July 2010 the balance of goods and services was at -$41.6 billion or a trade deficit increase of 7.7 percent.
Trade deficit has been persistent and drastically increasing over the last 30 years. In 1992, the balance of goods and services or trade deficit was $831 million.
As demonstrated by the chart below, US has seen the trade deficit exploded an additional $44 billion dollars.
Emerging markets fueled by a large, educated work force, a rising dollar, less trade restriction, fewer tariffs, and possible currency manipulation have all factored in creating the trade deficit.
“Made in America” has always implied higher wages but also lower national deficits through healthy exports levels.
While the GDP has grown over the last twenty years, so has the trade deficit. Ultimately, the debt borrowed to continue the trade deficit is weighing down the overall economy.
Long term growth will seem to desire a reduced trade deficit in the coming years. Overall economic policy cannot survive without somehow addressing this key issue.
economynews.us
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