U.S. International Trade and Freight Transportation Trends

Description

As the world’s largest trading nation, the United States imports and exports more merchandise than any other country. This report provides a broad overview of changes in U.S. international merchandise trade since 1990 and how transportation modes and services enable this trade, which is a vital part of the U.S. economy.
From 1990 to 2001, U.S. gross domestic product (GDP), overall merchandise trade, and the merchandise trade deficit all experienced substantial growth, although at varying rates. The relative importance of export and import merchandise trade to the U.S. economy also increased during this period. Between 1990 and 2001, the ratio of the value of merchandise trade to GDP rose from 13 to 22 percent in inflation-adjusted terms. Furthermore, U.S. merchandise exports compared to the production of tradable goods has risen, meaning goods exports have become more important to domestic production despite the decline in manufacturing’s share of GDP.

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