Answer the following questions using the BEA Tables for US International Trade in Goods and Services. Scroll down to the "U.S. Trade in Goods and Services, 1960-present" and download those spreadsheets. Using annual data from Table 1: Calculate the growth rate in U.S. exports over the last five years. Report your answer rounded to the nearest tenth. I % Calculate the growth rate in U.S. imports over the last five years. Report your answer rounded to the nearest tenth. %
Answer the following questions using the BEA Tables for US International Trade in Goods and Services. Scroll down to the "U.S. Trade in Goods and Services, 1960-present" and download those spreadsheets. Using annual data from Table 1: Calculate the growth rate in U.S. exports over the last five years. Report your answer rounded to the nearest tenth. I % Calculate the growth rate in U.S. imports over the last five years. Report your answer rounded to the nearest tenth. %
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
use last five years
Transcribed Image Text:Answer the following questions using the BEA Tables for US International Trade in Goods and Services E
Scroll down to the "U.S. Trade in Goods and Services, 1960-present" and download those spreadsheets. Using
annual data from Table 1:
Calculate the growth rate in U.S. exports over the last five years. Report your answer rounded to the nearest
tenth. I
%
Calculate the growth rate in U.S. imports over the last five years. Report your answer rounded to the nearest
tenth.
%
![Penod
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
32003
42004
- 2005
2006
7 2007
2008
50 2009
2010
1 2011
02 2012
63 2013
64 2014
65 2015
2016
67 2017
2018
09 2019
70 2020
71 2021
72 2022
73
Total
143
39,212
-70,311
-96,493
-96,384
-104,065
-108,273
-166,140
-255,809
-369.686
-360,373
420,666
-496,243
-610,838
-716,542
-763,533
-710,997
-712,350
-394,771
-503,087
-554,522
-525,906
446,861
-483.952
-490,776
-479,458
-510,344
-578,594
-559,676
-653,989
845,047
-945.319
Table 1. U.S. International Trade in Goods and Services
Exports, Imports, and Balances
(Millions of dollars, months seasonally adjusted]
Details may not equal totals due to seasonal adjustment and rounding.
Balance
N
-76,337
-96,897
-132,451
-165,831
-174,170
-191,000
-198,428
Goods
-248,221
-337,068
-446,783
-422,370
475 245
-541,643
-664,766
-782,804
-837,280
-821,196
-832,492
-509,604
-648.671
-740,999
-741,119
-700,539
-749,917
-761,868
-749,801
-799.343
-878,749
-857,260
-913,885
-1,000,206
-1,191,029
Services
45,802
57,685
62,141
67,338
77,786
86,935
90,155
82,081
81,258
77,006
61,997
54,579
45,401
53,927
66,262
265,965
271,092
270,343
288,999
Total
245,248
245,710
578,343
616,882
642 863
Lone
703,254
794,387
73,756 1,463,991
110,199
1,660,815
120,142
114,923
145,584
186,477
215,213
253,678
851,602
934,453
933,174
976,525
1,082,963
1,015,366
986,095
1,028, 186
1,168,120
1,291,503
2,313,121
2,392,615
2,280,778
2,240,824
2,394,470
300,155 2,542,462
297,584
2,546,276
259,896
2,158,651
2,556,638
3,011,855
1,849,588
1,592,792
1,872.320
2,143,552
2,247 453
Exports
Goods ¹
Monthly
FODES
414,083
439,631
456,943
502,859
575,204
612,113
678,366
670,416
698,524
784,940
731,331
698,036
730,446
823,584
913,016
1,040,905
1,165,151
1,308,795
1,070,331
1,290.279
1,498.887
1,562,630
1,593,708
1,635,563
1,511,381
1457,393
1,557,003
1,670,913
1,655,098
1,432,218
1,761,364
2,085,847
3 100
Services
164,260
177,251
185,920
200,395
219,183
239,489
256,087
262,758
278,001
298,023
284,035
288,059
297,740
344,536
378,487
423,086
495,664
540,791
522,461
582,041
644,665
684,823
719,413
757,051
769,397
783,431
837,474
865,549
891.177
726,433
795,273
926.008
LUTER
Total
600 479
656,094
713,174
801,747
890,771
955,667
1,042,726
1.099,314
1,232,335
1,452,650
1,375,739
1,406,762
1,524,429
1,778,958
2,008,045
2,227,523
2,371,811
2,561,936
1,987,563
2,375,407
2.698,074
2.773,359
2,759,982
2,876,566
2,771,554
2,720,282
2,904 820
3,121,057
3,105,952
2,812,640
3,401,685
3,957.174
FAST
Imports
Goods'
491,020
536,528
589,394
668,690
749,374
803,113
876,794
918,637
1,035,592
1,231,722
1,153,701
1.173,281
1,272,089
1,488,349
1,695,820
1,873,194
1,980,347
2,141,287
1,680,025
1,938,950
2,239,886
2,303,749
2,294,247
2,385,480
2,273,249
2,207,195
2,356,345
2,555,862
2,512,358
2,346,103
2,851,660
3.276.876
Services
178,459
119,566
123,780
133,057
141,397
152,554
165,932
180,677
196,742
220,927
222,039
233,480
252,340
290,609
312,225
349,329
385,464
420,650
407,538
436,456
458,188
469,610
465,736
491,086
498,305
513,088
548,475
565,395
593,594
466,537
550,025
680,298](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F32066021-45ff-4096-8829-778c96de06e3%2Fb6277c4e-165d-413f-a2b7-9acc31689b11%2Fu497s9_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Penod
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
32003
42004
- 2005
2006
7 2007
2008
50 2009
2010
1 2011
02 2012
63 2013
64 2014
65 2015
2016
67 2017
2018
09 2019
70 2020
71 2021
72 2022
73
Total
143
39,212
-70,311
-96,493
-96,384
-104,065
-108,273
-166,140
-255,809
-369.686
-360,373
420,666
-496,243
-610,838
-716,542
-763,533
-710,997
-712,350
-394,771
-503,087
-554,522
-525,906
446,861
-483.952
-490,776
-479,458
-510,344
-578,594
-559,676
-653,989
845,047
-945.319
Table 1. U.S. International Trade in Goods and Services
Exports, Imports, and Balances
(Millions of dollars, months seasonally adjusted]
Details may not equal totals due to seasonal adjustment and rounding.
Balance
N
-76,337
-96,897
-132,451
-165,831
-174,170
-191,000
-198,428
Goods
-248,221
-337,068
-446,783
-422,370
475 245
-541,643
-664,766
-782,804
-837,280
-821,196
-832,492
-509,604
-648.671
-740,999
-741,119
-700,539
-749,917
-761,868
-749,801
-799.343
-878,749
-857,260
-913,885
-1,000,206
-1,191,029
Services
45,802
57,685
62,141
67,338
77,786
86,935
90,155
82,081
81,258
77,006
61,997
54,579
45,401
53,927
66,262
265,965
271,092
270,343
288,999
Total
245,248
245,710
578,343
616,882
642 863
Lone
703,254
794,387
73,756 1,463,991
110,199
1,660,815
120,142
114,923
145,584
186,477
215,213
253,678
851,602
934,453
933,174
976,525
1,082,963
1,015,366
986,095
1,028, 186
1,168,120
1,291,503
2,313,121
2,392,615
2,280,778
2,240,824
2,394,470
300,155 2,542,462
297,584
2,546,276
259,896
2,158,651
2,556,638
3,011,855
1,849,588
1,592,792
1,872.320
2,143,552
2,247 453
Exports
Goods ¹
Monthly
FODES
414,083
439,631
456,943
502,859
575,204
612,113
678,366
670,416
698,524
784,940
731,331
698,036
730,446
823,584
913,016
1,040,905
1,165,151
1,308,795
1,070,331
1,290.279
1,498.887
1,562,630
1,593,708
1,635,563
1,511,381
1457,393
1,557,003
1,670,913
1,655,098
1,432,218
1,761,364
2,085,847
3 100
Services
164,260
177,251
185,920
200,395
219,183
239,489
256,087
262,758
278,001
298,023
284,035
288,059
297,740
344,536
378,487
423,086
495,664
540,791
522,461
582,041
644,665
684,823
719,413
757,051
769,397
783,431
837,474
865,549
891.177
726,433
795,273
926.008
LUTER
Total
600 479
656,094
713,174
801,747
890,771
955,667
1,042,726
1.099,314
1,232,335
1,452,650
1,375,739
1,406,762
1,524,429
1,778,958
2,008,045
2,227,523
2,371,811
2,561,936
1,987,563
2,375,407
2.698,074
2.773,359
2,759,982
2,876,566
2,771,554
2,720,282
2,904 820
3,121,057
3,105,952
2,812,640
3,401,685
3,957.174
FAST
Imports
Goods'
491,020
536,528
589,394
668,690
749,374
803,113
876,794
918,637
1,035,592
1,231,722
1,153,701
1.173,281
1,272,089
1,488,349
1,695,820
1,873,194
1,980,347
2,141,287
1,680,025
1,938,950
2,239,886
2,303,749
2,294,247
2,385,480
2,273,249
2,207,195
2,356,345
2,555,862
2,512,358
2,346,103
2,851,660
3.276.876
Services
178,459
119,566
123,780
133,057
141,397
152,554
165,932
180,677
196,742
220,927
222,039
233,480
252,340
290,609
312,225
349,329
385,464
420,650
407,538
436,456
458,188
469,610
465,736
491,086
498,305
513,088
548,475
565,395
593,594
466,537
550,025
680,298
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