After compiling governments’ trade data, I noted that Trade alone does not provide a full picture of the global economy. Yet, having said that, two significant trade nations stood out.
(Actually three nations if you include how miniscule the China trade surplus is; if China is aiming for perfect trade-balance then they are spot on!)
With the massive news media hype of trade sanctions against Russia, I was surprised to read that both Russia and Germany recorded surpluses:
Russia recorded a trade surplus of 9867 USD Million in December of 2014.
However, the global economic data paints a dire picture.
U.S. trade deficit in goods with China Total -342.6 Billion for year 2014
[NOTE: the Chart above is not for use other than for discussions related to trade trends. The chart can be confusing in that it has data on both the U.S.-trade-with-China, and also the broader, full U.S. foreign trade deficits. Our discussions centered primarily with the last two columns of years 2013 and 2014 as we noted Brazil joined the trade deficit group of Turkey, Japan, and the USA!
I apologize for the charts’ unusual relational data, however it fits our local discussions about China-USA-Russian relations. Interesting, how Russian trade surplus contradicts the news stories of effective trade sanctions against Russia, we can not trust the governments and news media information and we agree the chart is their data and may not be trusted…
Oh, and we ask is Turkey likely to see economic improvements because of new ties to Russian trade? Rumours abound of governments, in defiance of U.S. policy, seeking to join Russian trade agreements. ~Ron]
February 5, 2015 By Henock Kebede
The [U.S.] trade deficit in goods and services increased by the highest margin on record ($6.8 billion) to $46.6 billion in December, a 17.1% increase from November ($39.8 billion, revised). The increase in the deficit reflects a decrease of $1.5 billion in exports and an increase of $5.3 billion in imports. Among the drivers for the increase in imports are record highs for non-petroleum imports ($173.2 billion) and imports of services ($41.2 billion). To view the full release, please click here.
The U.S. had record trade deficits with China ($342.6 billion) and the European Union ($141.1 billion) in 2014 while having record surpluses with South/Central America ($34.4 billion) and Singapore ($14.1 billion). [Bold font added for discussions. ~Ron]