Looking at the Export and Import data of the last several years we can assume that the US is currently changing its course from consumption oriented to export oriented economy. The change will not be overnight and may take up to several decades, but eventually we can see the US trade deficit gradually erased.
CURRENT SITUATION:
On the export side, we can see that US has restored its sales to other countries far beyond the peak of 2008. However the US dollar appreciation of the last year has had it impact on exports, which are now contracting, as US goods are becoming less competitive on the global market in terms of prices.
On the import side, US has restored its consumption back to the 2008 levels, however did not expand beyond it significantly. Imports trend laterally since about 2011 after reaching 2008 peal level!
CURRENT SITUATION:
On the export side, we can see that US has restored its sales to other countries far beyond the peak of 2008. However the US dollar appreciation of the last year has had it impact on exports, which are now contracting, as US goods are becoming less competitive on the global market in terms of prices.
On the import side, US has restored its consumption back to the 2008 levels, however did not expand beyond it significantly. Imports trend laterally since about 2011 after reaching 2008 peal level!