The United States Trade Deficit: An Analysis of Top Trading Partners
In this paper, an attempt is made to conduct a US trade process analysis. For this purpose, the US imports and exports of goods data for the year 2008 is used. This is divided into two parts, the first part being a description of the US imports and exports of goods and the second part being an analysis of the top ten trading partners of the United States.
2. U.S. Imports and Exports of Goods
The United States is both an importer and an exporter of goods. In 2008, the US exports of goods amounted to $1,316 billion while the US imports of goods amounted to $2,368 billion. Thus, the United States had a deficit in its trade in goods for the year 2008.
3. Top Ten Trading Partners of the United States
The countries that can be found in the top ten trading partners list of U.S. and have surplus in Year To Date Surplus in Millions are Netherlands and Brazil.
4. Year To Date Surplus in Millions
The year-to-date surplus in millions for Netherlands was $6,227 and for Brazil, it was $3,4 454. Thus, Netherlands had a higher surplus than Brazil.
5. Netherlands and Brazil
Netherlands is a country located in Western Europe with a population of 16,729,000 people and an area of 41,526 square kilometers. The Netherlands has a market economy which is considered to be very free and open. The GDP per capita of Netherlands was $37,700 in 2008 while its GDP growth rate was 1.8%. On the other hand, Brazil is located in South America with a population of 190,732,694 people and an area of 8,511,965 square kilometers. It has a mixed economy which is also considered to be very free and open. The GDP per capita of Brazil was $10,200 in 2008 while its GDP growth rate was 5%.
From the above analysis, it can be concluded that the United States had a deficit in its trade in goods for the year 2008. However, there were two countries in the top ten trading partners list of United States which had a surplus in Year To Date Surplus in Millions. These countries were Netherlands and Brazil.
Cite this assignment
More Related papers
- The Social Determinants of Health and Their Relationship to Food
- The Learning Organization Subtitle: Peter Senge's five disciplines for effective organizations
- The Transformation of the Rave Scene in Europe
- The Portrayal of Justice in "The Bacchae" and "The Secret History"
- The Effects of the Program for Promoting Responsive Parenting on Maternal Depression, Stress Levels, and Negative Parenting Behaviors