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

Trade Decline Acceleration signals need for economic action.

Print | 
Email |  Comment   Share  
March 17, 2009 - National Association of Manufacturers (NAM) said that the accelerating decline of trade in manufactured goods, reflected in January 2009 trade data released by the US Department of Commerce, underscores the need for coordinated economic stimulation among trading partners. According to Frank Vargo, NAM Vice President for International Economic Affairs, manufactured goods export and import rates fell 20% from January 2008.

Manufactured Goods Trade Decline Accelerates

(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

Press release date: March 13, 2009

Figures Underscore Urgency Of Coordinated Economic Action, Says Vargo

WASHINGTON, March 13, 2009 - The National Association of Manufacturers (NAM) said that the accelerating decline of trade in manufactured goods reflected in the January 2009 trade data released today by the U.S. Department of Commerce underscores the need for "coordinated economic stimulation" among trading partners.

"Both exports and imports of manufactured goods fell a stunning 20 percent from January 2008," said NAM Vice President for International Economic Affairs Frank Vargo. "The rate of decline was double the 10 percent fall in December 2008.

"Because imports are larger than exports, the overall 20 percent decline in both led to a reduction of the U.S. trade deficit," he noted. "The January 2009 manufactured goods deficit of $30 billion was $7 billion smaller than a year ago.

"The rapidity of the decline in manufactured goods trade is unprecedented," Vargo said. "This report adds urgency to the need for countries to take coordinated economic stimulation action, to provide more trade financing, and to act decisively against trade protectionist measures."

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 web site at for more information about manufacturing and the economy.
Print | 
Email |  Comment   Share  
Contacts: View detailed contact information.


Post a comment about this story

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

 See related product stories
More .....
 See more product news in:
| 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        Browse ThomasNet Directory

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

Error close

Please enter a valid email address