Fact #513: April 7, 2008
Transportation and the U.S. Trade Deficit, 2001-2007
In calendar year 2007, the U.S. trade deficit experienced a slight decline for the first time in many years, though it still remains nearly double that of 2001 levels. Transportation related commodities accounted for just over half of the deficit in 2007 with petroleum at 36% and vehicles, engines, and parts totaling 16.9%.
Trade Deficit, 2001-2007
Supporting Information
| Commodity Category | 2001 | 2001 Share |
2002 | 2002 Share |
2003 | 2003 Share |
2004 | 2004 Share |
2005 | 2005 Share |
2006 | 2006 Share |
2007 | 2007 Share |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Petroleum | 92,950 | 21.8% | 93,169 | 19.3% | 120,402 | 22.0% | 163,831 | 24.6% | 229,191 | 29.3% | 270,862 | 32.3% | 293,379 | 36.0% |
| Vehicles, engines, and parts | 114,347 | 26.8% | 124,801 | 25.8% | 129,487 | 23.6% | 140,023 | 21.0% | 140,934 | 18.0% | 149,499 | 17.8% | 137,990 | 16.9% |
| Other goods | 219,891 | 51.5% | 264,925 | 54.9% | 297,663 | 54.4% | 361,623 | 54.3% | 412,615 | 52.7% | 417,910 | 48.9% | 384,000 | 47.1% |
| Total | 427,188 | 100.0% | 482,895 | 100.0% | 547,552 | 100.0% | 665,477 | 100.0% | 782,740 | 100.0% | 838,271 | 100.0% | 815,369 | 100.0% |
|
U.S. Department of Commerce, Bureau of Economic Analysis, "U.S. International Trade in Goods and Services," Exhibits 6 and 9, November 2004, December 2006, and December 2007. | ||||||||||||||
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