United States Exports Surging
NAM Calls Surge in Exports "Phenomenal" is the title of a news release of the National Association of Manufacturers. The National Association of Manufacturers is an American organization of U.S. manufacturers. The report reveals that U.S. exports have strongly surged and were 17.4 per cent higher in June 2008 than they were in June 2007. Quoting from the report (in bold print):
“Chemicals, industrial machinery, and primary metal products are among the real export stand-outs so far this year,” said Vargo. “The public isn’t aware of how much we export because these aren’t the types of goods they see in stores, but the fact is America is the world’s largest producer of manufactured goods and one of the world’s largest exporters of manufactured goods.
The performance of manufactured goods trade is so strong that it is a major offset to the rising deficit in petroleum,” said Vargo. “The U.S. appetite for imported petroleum remains huge and the deficit in petroleum now accounts for nearly two-thirds of the entire U.S. deficit in goods and services – underscoring the need for further development of domestic energy resources.”