Analysis of the Foreign Trade Statistics: Imports & Exports

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The United States also sells to China, and its exports estimated around $124 billion and accounted for about 7.6% of its overall exports. Different countries will require different products, and this will change from country to country (Top US Exports, 2015).

Countries are most indebted to the U.S.

This information pulled from the balances of HS total all merchandise from ITA. The countries that are most grateful to the United States was Hong Kong with an estimated $22,590,167,678 with the Netherlands not far behind them with an estimated $17,764,340,488. The imports and exports between countries play a vital role in how much different countries create debt (Top US Exports, 2015).

Countries are most important to the U.S.

The countries that are the most important to the United States would be Canada, Mexico, China, Japan. These countries are among the highest in exporting goods from the United States. The United States an advantage in moving products and services creating a balanced economy. When the U.S. is exporting more than its importing this helps the economy grow, and if the U.S. imports more than it exports it puts a drag on the economy (Guide to Foreign Trade Statistics, 2015).

To have a healthy economy within any given country. The country has to have growth in both exports and imports. What this indicates is that with growth in exports and imports, there will be growth in economic strength and create a substantial trade surplus or deficit (Top US Exports, 2015).

The imports and exports are the inter-relationship that binds countries’ economies together, yet it can be a complicated journey because of the feedback loop between the factors. Balancing these factors can sometimes seem impossible (Gerber, 2011).

Imports and exports are a vital influence on how the consumers of many countries affect the economy directly, and how it impacts the currency level both domestic and internationally (Gerber, 2011).

Summary

We have journeyed through how imports and exports affect economies and some of the basic functions that they impose on an economy. We are looking at imports and exports that topple the list for the United States. We have looked at what countries are most relevant to the United States economy and why the United States to keep it that way (Gerber, 2011).

References

Gerber, J. (2011). International economics [fifth edition] (5th ed.). Retrieved from https://bookshelf.vitalsource.com/#/books/9781256895213/cfi/6

Guide to Foreign Trade Statistics - Description of the Foreign Trade Statistical Program. (2015). Retrieved from http://www.census.gov/foreign-trade/guide/sec2.html#intro

Trade Statistics Express. (2015). Retrieved from http://tse.export.gov

Top US Exports. (2015). Retrieved from http://www.worldsrichestcountries.com/top_us_exports.html

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Figure 1. Sample size of 2014 Exports to World of HS Total All Chart of 2014 [Exports to World of HS Total All Merchandise]. (2015). Retrieved from http://www.trade.gov