A Look at the Latest US International Trade Data

The latest US trade data show a small improvement. The trade balance for February 2009 stood at -$26.0B  from $36.2 in January.

Canada, China and Mexico remained the top three countries with which the US trades. Trade with Canada, the largest trading partner of US, stood at $33.02B but that is still 32% less than the figure in February 2008. Similarly trade with Mexico and China are also down as well.

Chart (click to expand):


Source: Census.gov

The above chart shows that exports increased in February.However total imports are higher than exports. Total imports of goods were $121.5 billion in February while goods export was just $84.7B. This is understandable since we import lots of cheap goods from overseas. Another observation is that the gap between exports and imports(trade balance) is shrinking since mid-2008.

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