Is the united states running a trade surplus or deficit How

Is the united states running a trade surplus or deficit? How did the trade balance change from 2008 ot 2009? Explain

Solution

Trade surplus: This is the country’s excess export over its import.

Trade deficit: This is the country’s shortage export over its import.

The U.S is running a trade deficit. In each year since 1976 the country is facing trade deficit because of excess import over export. The U.S imports consumer products and oil at increasing numbers.

U.S trade deficit in 2008 is $695.9 billion and in 2009 is $380.7 billion. Therefore, it shows a decrease in trade deficit in 2009 compare to 2008. Such decrease happens due to overcoming the recession phase.