Trade Fact of the Day
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total March exports of $148.5 billion and imports of $206.7 billion resulted in a goods and services deficit of $58.2 billion.
About Trade
"Trade fosters human opportunities that build hope and give people a stake in their society's success."
John D. Negroponte
Deputy Secretary of State
September 18, 2007
About Free Trade Agreements
Free trade agreements (FTAs) have proved to be one of the best ways to open up foreign markets to U.S. exporters. Today, the United States has FTAs with 14 countries. In 2006, six new FTAs were implemented: with Bahrain, El Salvador, Guatemala, Honduras, Morocco, and Nicaragua. Last year, trade with countries that the United States has FTAs was significantly greater than their relative share of the global economy. Although comprising 7.5 percent of global GDP (not including the United States), those FTA countries accounted for over 42 percent of U.S. exports.
More FTA information:
U.S. Department of State
U.S. Department of Agriculture
U.S. Trade Representative
International Trade Administration
U.S. Free Trade Agreement Partners in the Global Economy
FTA = free trade agreement
GDP = gross domestic product
Note: World GDP excludes the United States. GDP percentage shares are based on GDP figures on a purchasing power parity basis. Export figures are for total U.S. Exports.
Free trade agreement countries include all countries with free trade agreements with the United States (Australia, Bahrain, Canada, Chile, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco, Nicaragua, and Singapore).
Sources: International Monetary Fund, World Economic Outlook Database (April 2007); U.S. Department of Commerce, International Trade Administrations, and Bureau of the Census
