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No growth in US goods exports to China in 2009

According to preliminary trade statistics released by the Bureau of Economic Analysis on February 10, U.S. goods exports to China shrunk by a miniscule .002% in 2009 while U.S. goods imports from China shank by a massive 12.2%. These statistics reflect the relative growth rates of the two economies, as shown in the following table:

2009 Growth Rates of U.S. and China
Country Nominal GDP Goods Imports
China 8.7% -0.002%
U.S. -1.26% -12.2%

The following table displays the actual trade data:

U.S. Goods Exports and Imports with China
Year Exports Imports
2008 $69.7 billion $337.8 billion
2009 $69.6 billion $296.4 billion

Next year, Amercan GDP is expected to grow, so our goods imports from China can be expected to grow. Chinese GDP is also expected to grow next year, so its goods imports from the United States can be expected to stay about the same.



Disclosure: I own Chinese yuan through CYB