NAM: November Trade Data Shows Continued Improvement
Jan 12, 2007
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The Commerce Department’s trade data for November 2006 shows continued improvement in U.S. manufactured goods trade, according to the National Association of Manufacturers (NAM).
This is the 13th consecutive month that manufactured exports outpaced imports, accounting for 62 percent of total exports for November, composing practically all of the U.S. $700 million November gain. November 2006 manufactured goods exports were up 15 percent from November 2005, while manufactured goods imports were up 10 percent. Manufactured exports were paced by a 20 percent increase in exports of advanced technology products. All other manufactured goods exports were up 12 percent.
Looking at trade for the year-to-date, the NAM said the January-November manufactured goods deficit was $486 billion. Over 80 percent of the deficit, or $404 billion, was with Asia, and $222 billion of that was with China.
Elsewhere, the deficits with both NAFTA and the European Union shrunk this year as the manufactured goods deficit with NAFTA through November was $34 billion, down about $2 billion from the comparable part of 2005.
The manufactured goods deficit with the European Union through November was $87 billion, down about $5 billion from last year.
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