ITC Issues Annual Report on Shifts in U.S. Merchandise Trade
The International Trade Commission has issued a report, "Shifts in U.S. Merchandise Trade 2009," an annual compendium of data and analysis examining changes in trade with key U.S. partners and in crucial U.S. industries.
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Focuses on Changes in U.S. Trade in Manufacturing, Natural Resources, Etc.
The report focuses on changes in U.S. exports, imports, and trade balances of key natural resources, agricultural, and manufacturing industries, as well as changes in U.S. trade with major partners and groups.
It is organized as follows:
Overall U.S. performance -- Part I presents an analysis of overall economic performance and U.S. merchandise trade in 10 merchandise sectors from 2008 to 2009. U.S. merchandise trade performance in 2009 is summarized and compared with such performance in 2008. Coverage of the individual merchandise sectors includes data showing U.S. export, import, and trade balance shifts by sectors, industry/commodity groups, and, in some cases, subgroups, as well as shifts in trade with U.S. trade partners. Major shifts in trade are highlighted and examined in greater detail in the rest of the report.
Shifts in trade with top five partners - Part II examines the shifts in U.S. trade with each of the top five U.S. trade partners—the European Union (EU), Canada, China, Mexico, and Japan. Also examined are shifts in trade with Brazil, India, Russia, and Korea - U.S. trading partners that are growing in significance. Summary tables show the important shifts in U.S. bilateral trade and highlight leading changes in industry/commodity groups for each of the major trading partners.
10 merchandise sectors - Part III presents a general overview for each of the 10 merchandise sectors, identifying significant shifts in trade within each sector. Most of these sectors were selected because the absolute and percentage shifts in trade exceeded $1.5 billion and 50 percent. Three of the chosen industries (cereals; motor vehicles; and cement, stone, and related products) did not experience shifts that exceeded these levels, but were added because they have not been analyzed in recent years and have been industries of interest throughout the economic downturn.