EXPORTS, IMPORTS, and TRADE BALANCE

KEY ECONOMIC EVENTS

• Continued economic growth in the United States and its major trading partners contributed to increased bilateral merchandise trade flows in 2006. Strong growth in consumer spending, business structures investment, and exports supported the economic performance of the United States.
  
  
• The rate of increase in the U.S. merchandise trade deficit slowed from 17 percent in 2005 to 7 percent in 2006, even as the deficit grew from $858.4 billion in 2005 to a record $915.6 billion in 2006.
  
  
• Total U.S. exports increased to a record $929.5 billion, a 16 percent increase. Aircraft, spacecraft, and related equipment; motor vehicles; and petroleum products recorded the largest sector increases for a combined $33.5 billion (27 percent) of export growth, although export increases are recorded in every merchandise sector.
  
  
• U.S. imports for all merchandise sectors increased by 11 percent to a record $1.8 trillion. The energy products, minerals and metals, and transportation equipment sectors accounted for over half of the increase. The crude petroleum, motor vehicles, and petroleum products commodity groups recorded the largest increases in 2006, accounting for a third of import growth.
  

TRADE SHIFTS in 2006 from 2005

• U.S. trade deficit: Increased $57.2 billion (7 percent) to $915.6 billion
• U.S. exports: Increased $25.5 billion (16 percent) to $929.5 billion
• U.S. imports: Increased $182.7 billion (11 percent) to $1.8 trillion
  
  

SECTOR SHIFTS

| Agricultural Products | Forest Products | Chemicals and Related Products |
| Energy and Related Products | Textiles, Apparel, and Footwear |
| Minerals and Metals | Machinery | Transportation Equipment |
| Electronic Products | Miscellaneous Manufactures |

COUNTRY SHIFTS