Statistics

U.S. trade rises a tepid 6 percent through February

April 16th, 2007

U.S. trade with the world is off to a rather tepid 6 percent increase through the first two months of the year, according to WorldCity analysis of the most recent Census data.

Exports rose faster than imports in both percentage terms and in dollar terms, leading to a decrease in the trade deficit. Exports rose $17.8 billion while imports rose $8.9 billion, leading to a 7 percent decline in the deficit.

Los Angeles was the fastest-growing Customs district, in dollar terms, with a $6.4 billion increase, and Houston was the fastest-growing in percentage terms, among top Customs districts, with 18 percent growth. Two leading Customs districts saw a decline in total trade, Detroit and Buffalo.

Among countries, China, Brazil, Singapore and India were the strongest performers through the first two months. China alone accounted for almost $11 billion of the nearly $27 billion increase. The United States’ top trade partner, Canada, saw its trade drop 2.8 percent, explaining the decline in Detroit and Buffalo, both of which count Canada as their top trade partner.

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