ThomasNet News Logo
Sign Up | Log In | ThomasNet Home | Promote Your Business

Manufactured Goods Exports improve U.S.trade balance.

Print | 
Email |  Comment   Share  
May 13, 2008 - According to NAM, continuing surge in exports of manufactured goods, up 11% this year compared to same part of last year, contributed strongly to improvement in U.S. trade balance in March. Exports are strongest part of U.S. economy, and over last 4 quarters, they accounted for close to half of all U.S. economic growth. Implementing trade agreements with Colombia, Korea, and Panama will further open markets to American-made goods and services.

Surge In Manufactured Goods Exports Improves U.S.Trade Balance


(Archive News Story - Products mentioned in this Archive News Story may or may not be available from the manufacturer.)

National Association Of Manufacturers (NAM)
1331 Pennsylvania Ave. N.W.
Washington, DC, 20004
USA



Press release date: May 9, 2008

"Blistering Pace of Exports is Strongest Part of U.S. Economy," Says Vargo

WASHINGTON, D.C. May 9, 2008 - The continuing surge in exports of manufactured goods contributed strongly to the improvement in the U.S. trade balance in March, according to the National Association of Manufacturers.

"Manufactured goods exports continued to rise at a blistering pace, up 11 percent so far this year compared to the same part of last year," said NAM Vice President for Interational Economic Affairs Frank Vargo. "In contrast, manufactured goods imports were up just 3 percent.

"As a result of the stellar performance of U.S manufactured goods exports and the slowdown in imports, the U.S. trade deficit in manufactured goods is 13 percent smaller than a year ago," Vargo said. "The U.S. manufactured goods trade deficit was $104 billion for the first three months of 2008, compared to $119 billion for the same part of 2007.

"Exports are the strongest part of the U.S. economy," said Vargo, "and over the last four quarters they accounted for close to half of all U.S. economic growth. That is why we have to do everything we can to keep those exports growing - including implementing the remaining trade agreements with Colombia, Korea, and Panama that will further open markets to American-made good and services.

"Fully 55 percent of the trade deficit in goods and services is now in petroleum," said Vargo. "This underscores the need to move quickly on a comprehensive domestic energy policy."

The National Association of Manufacturers is the nation's largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country. Visit the NAM's award-winning web site at www.nam.org for more information about manufacturing and the economy.

CONTACT: HANK COX (202) 637-3090
Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


 

Post a comment about this story

Name:
E-mail:
(your e-mail address will not be posted)
Comment title:
Comment:
To submit comment, enter the security code shown below and press 'Post Comment'.
 



 See related product stories
More .....
 See more product news in:
Services
| Featured Manufacturing Jobs
 Other News from this company:
NACD and Associquim Sign Memorandum of Understanding
Good News on ACA Implementation - Kind of
Participate in Manufacturing Day - Mark Your Calendars for October 4!
Business Group Praises Bipartisan Introduction of Bill Preventing Costly and Unnecessary Regulation of Main Street Risk Management
Manufacturers Win in Fight Against NLRB Overreach
More ....
 Tools for you
Watch Company 
View Company Profile
Company web site
More news from this company
E-mail this story to a friend
Save Story
Search for suppliers of
Trade Associations


Home  |  My ThomasNet News®  |  Industry Market Trends®  |  Submit Release  |  Advertise  |  Contact News  |  About Us
Brought to you by Thomasnet.com        Browse ThomasNet Directory

Copyright © 2014 Thomas Publishing Company. All Rights Reserved.
Terms of Use - Privacy Policy



Error close

Please enter a valid email address