Look at the US trade balance in goods and in services. That is, look at exports
ID: 1139980 • Letter: L
Question
Look at the US trade balance in goods and in services. That is, look at exports less imports for each category of trade. Which of the following best describes the trade balances over this period?
The US had a surplus in both goods and services.
The US had a surplus in goods and a deficit in services.
The US had a deficit in goods and a surplus in services.
The US had a deficit in both goods and services.
a)The US had a surplus in both goods and services.
b)The US had a surplus in goods and a deficit in services.
c)The US had a deficit in goods and a surplus in services.
d)The US had a deficit in both goods and services.
Explanation / Answer
Correct option is (c).
As per FRED database latest available data (July 2018), US Goods balance is -$73,144 million (negative sign indicating deficit) and US Services balance is $23,062 million (indicating surplus).
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