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Recovery In Progress For U.S. Trade in Manufactured Goods

03/12/2010
The Commerce Department has reported that U.S. trade in manufactured goods is clearly on the rebound with exports at $108.3 billion in January, up 6.5 percent over January 2009.

The seasonally-adjusted manufactured goods trade deficit declined a bit in January, compared to December 2008, to a minus $28 billion. In mid-2006 that figure peaked at $520 billion.

According to the Commerce department U.S. manufacturers were responsible for 60 percent of U.S. exports, and while the recovery is happening at a fast clip the figures are 20 percent below July 2008.

The January 2009 to January 2010 increase in exports of goods reflected increases in industrial supplies and materials ($7.0 billion); automotive vehicles, parts, and engines ($3.4 billion); consumer goods ($2.1 billion); foods, feeds, and beverages ($1.7 billion); capital goods($1.6 billion); and other goods ($0.4 billion).

The January 2009 to January 2010 increase in imports of goods reflected increases in industrial supplies and materials ($9.1 billion); automotive vehicles, parts, and engines ($5.4 billion); capital goods ($2.0 billion); consumer goods ($0.8 billion); foods, feeds, and beverages ($0.3 billion); and other goods ($0.3 billion).

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