To get more insight into the everlasting discussion about how Eu countries exports are so much higher than those of the US, I would first like to state the fact, that the US has a higher value per capita export than the EU countries.
How can I say this, if we all seem to know that Germany is the export world champion?
You need to compare apples to apples.
The US does not present trade within their states – e.g. California to NY, or Ohio to Texas, they only present external trade out of the US.
If we now neglect inner European trade, and only focus on the external EU trade, which is comparable to the US trade statistic, our external trade is lower than that of the us.
Look at individual countries, and then find the EU statistic below the US statistic.
Interesting in this aspect is, that many countries, especially the US that stating a major decline in Germany due to their high exports, but look at the exports per capita of other countries, and how this will affect them, probably much harder than Germany.
If you then try to find China far way below, and consider that these are nominal values, I wonder how they should make up for the lost US consumer, as has been stated in a few articles.
Remark: Do not forget to differentiate between nominal values, PPP values and per capita values; if you compare US, compare it with EU, or you can start comparing Luxemburg to New York, makes a great story with great numbers.
Disclosure: No stocks