Deindustrialization? US goods exports worth a record $1.5 trillion in 2011

[Euroconservativ]

Up 40% in 2010-2011. Not including military stuff:

http://www.census.gov/foreign-trade/Press-Release/current_press_release/exh7.pdf

A top exporter of industrial machinery, turbines, medical equipment, semiconductors, agricultural and excavating machinery... USA exports about 800 commercial airplanes, corporate jets and midsize/large civil helicopters a year. And half of all jet engines worldwide are built in America. Even the auto industry is back on its feet, with more foreign investment and export-oriented new models:

BMW Making $900 Million Investment in South Carolina Factory for Upcoming X4 - WOT on Motor Trend

$1.5 trillion is a very good number for a 310 million people, 9.8 million km2 large nation, bordered by two oceans. The huge US trade deficits are all about consumer goods and energy, NOT investment goods and industrial supplies. So imbalances come from the import side, with Americans being responsible for 25% of global oil consumption. It has to do with the international status of the Dollar and therefore borrowing from the rest of the world at low rates.

Both output and orders are still growing:

ISM - ISM Report - December 2011 Manufacturing ISM Report On Business®

 

[Mr. H.]

Interesting figure that 25% of global consumption.

U.S. also uses 25% of world's oil.

U.S. also contributes 25% of world's GDP.

Very telling, no?

 

[Euroconservativ]

Interesting figure that 25% of global consumption.

U.S. also uses 25% of world's oil.

U.S. also contributes 25% of world's GDP.

Very telling, no?

GDP is mostly about consumption (private and public)

let's say it this way: 25% of oil consumption for 5% of the world's population