|
| The
Volume of U.S. Foreign Trade in Goods Imports, exports and balance of trade as % of the total gross output of U.S. goods-producing industries |
| In order to
compare apples with apples, this chart depicts U.S.
imports and exports of all goods as percent of the gross
domestic output of U.S. goods-producing
industries, not the gross domestic product
originating in those industries. Whereas GDP is the sum
of all the value-added (output minus inputs at each stage
of production), prices of merchandise imports and exports
include the value of inputs from industries which don't
produce goods, such as finance. The Bureau of Economic
Analysis
classifies as "goods-producing" those firms
engaged in manufacturing, mining, construction,
agriculture, forestry and fishery. For further
information on the difference between "product"
and "output", see the glossary. View a chart about the volume of U.S. merchandise trade as percent of GDP. View both charts
as a table. Source: Data on imports and exports of goods extracted from NIPA Table 1.1 ("Gross Domestic Product") of the National Accounts Data at the Bureau of Economic Analysis. The table is also contained in the August 1998 issue of theSurvey of Current Business. The data on gross output of goods-producing industries can be obtained from Table 13 of the November 1997 issue of the Survey of Current Business; or it can be downloaded from the BEA's Industry and Wealth Data page. |
| visitors since 9 September 1998 | Last revised: 9 September1998 |