1,000-Word Charts: U.S. Foreign Trade

Due to its complexity, much of the subject matter concerning the economy requires detailed editorial commentary, often supported by relevant tables and graphs.

At the same time, though, there are many topics (e.g., relating to demographics, housing starts, etc.) that cry out for compelling ‘shorthand’ visualizations.

Whichever path is followed, the point of the journey, almost always, is to reach a bottom line or two.

To provide additional value, ConstructConnect is now pleased to offer an ongoing series of 1,000-word charts.

These will help readers sort out the ‘big picture’ more clearly.

These 1,000-word charts look at U.S. foreign trade, goods and services balance, and the geographic sources of the U.S. total foreign trade deficit in goods, as of April 2021.

Graph 1: United States’ Foreign Trade: Goods and Services Balance − April 2021

In Apr 2021, the U.S. trade deficit was -8.2% m/m, but +30.1% y/y (i.e., worse than in April 2020 by almost a third).

The last data point is for April 2021.
Based on seasonally adjusted monthly figures, projected at an annual rate.

Data source: Bureau of Economic Analysis (BEA).
Chart: ConstructConnect.

Graph 2: Geographic Sources of U.S. Total Foreign Trade Deficit in Goods – April 2021

For Jan-Apr 2021, ytd U.S. exports to China were +52.7%; ytd imports from China were +41.6%; the trade deficit was +37.2%.

Data source: U.S. Census Bureau and Bureau of Economic Analysis (BEA).
Chart: ConstructConnect.

Please click on the following link to view the latest Foreign Trade charts and tables: CanaData Forecaster Charts & Tables – Foreign Trade

Alex Carrick is Chief Economist for ConstructConnect. He has delivered presentations throughout North America on the U.S., Canadian and world construction outlooks. Mr. Carrick has been with the company since 1985. Links to his numerous articles are featured on Twitter @ConstructConnx, which has 50,000 followers.