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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. %

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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. %
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
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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