Hi, Please help me answering the questions below. I am not in rush, I can wait t

Question

Hi, Please help me answering the questions below. I am not in rush, I can wait to get the answers for 24 hours. Please take time your time to answer in every details.

THANK YOU!!!

1. The International Trade Administration in the Department of Commerce keeps an up-to-date Web site with the easiest to access U.S. trade data. See http://tse.export.gov for their Trade Stats Express site. Data are also provided for state exports. (Everything you might want to know about these data series, and then some, is available on the Census Bureau’s Web site in their Foreign Trade section. See http://www.census.gov/foreign-trade/guide/sec2.html for a complete description of data, collection methods, measurement issues, and other background information.) Using the Trade Stats Express page:

· What are the leading U.S. exports and imports in terms of value?

· Is there a pattern? That is, in what kinds of goods does it look like the United States might have a comparative advantage?

· Which trading partners are most important to the United States? This can be measured in terms of total exports, total imports, or total exports plus imports.

· Which countries have the largest trade deficits and trade surpluses with the United States?

Explanation / Answer

The leading Imports and Export product category in U.S. in terms of value is Transportation Equipment with value of $379,162,996,227 import and $275,636,039,758 export in year 2015.

Frrom the data we see that trade balance is positive for products related to nature like Minerals & ore, food, papers agricultural items. So U.S. has comparative advantage with in agricultural products

Three countries with maximum export is Canada, Mexico and China. and these are the same three cuntries with maximum import also they are the most important trading partner of United Statess.

As per the data top three countries with trade surplus are Hong kong, Netherland, United Aram Emirates and top three countries with trade deficit are China, Germany and Japan

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