Record High Exports in September

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By: Lam Nguyen

Overall, the deficit of goods and services is down from $43.8 billion (-$2.3 billion) in August (revised) to $41.5 billion in September. Specifically, exports increased from $181.4 billion (+$5.6 billion) in August (revised) to $187.0 billion in September. Imports went from $225.2 billion in August (revised) to $228.5 billion in September resulting in a +$3.4 billion increase.

Major contributors to the increase of goods exports include industrial supplies and materials (+$3.4 billion) and foods, feeds, and beverages (+$1.1 billion). For goods imports, the major contributors to the increase in September were consumer goods (+$2.7 billion) and industrial supplies and materials (+$1.2 billion). We also saw a decrease of automotive vehicles, parts, and engines for both exports (-$0.3 billion) and imports (-$0.9 billion).

For more detail, click here.

Liquefied Natural Gas Exports

Recently, Ambassador Ron Kirk, United States Trade Representative, discussed the impact of natural gas on the U.S. economy and its potential to decrease dependence on external energy sources. Out of the 234 U.S. trading partners, liquefied natural gas companies in the United States are only exporting to 31 countries. So far, in 2012 the world’s biggest consumer of U.S. Liquefied Natural Gas (LNG) is Japan with $160.1 million dollars worth of LNG imported from the United States alone. Other top consumers of LNG exports from the U.S. are Canada, India, Brazil, and Spain. In December, the United States will engage in negotiations with a dozen countries to forge an Asia-Pacific trade deal, which could potentially increase the number of LNG trading partners. So stay tuned!

The data mentioned in this post (and much more) can be found on USA Trade Online.

 

*Note: LNG is defined as imports and exports of Harmonized System (HS) code 271111.

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2 Responses to Record High Exports in September

  1. Bernard A. Friedrich says:

    Thank you for providing information and statistics on U.S. exports and imports,
    as well as on major US exporters and importers.

  2. Paul Ruth says:

    On the LNG exports, doesn’t it take a pretty complicated and expensive not to mention potentially dangerous process to liquify natural gas? It then has to be kept at a very low temperature when shipped, so this requires energy transfer also. I guess what I am asking, wouldn’t it be smarter to use the ng here by improving the infrastructure rather than an attempt to monetize it through export? The reduction of an import is the same as the increase of the same dollar of export and the use domestically requires a process that is alot less dangerous to the city or communities involved.

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