Minerals and Metals

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Exports, Imports and Trade Balance

 

 

Key Trends

  • The trade deficit in minerals and metals grew by 16 percent to $86.6 billion in 2006 as imports continued to outpace exports. The growth in both imports and exports resulted from increases in price more so than volume.
  • China surpassed Mexico as the second-largest trading partner in minerals and metals, behind only Canada. China's rising demand for raw materials in support of its rapidly expanding economy continued to exert strong upward pressure on global prices of mineral and metal commodities.
  • Precious metals and non-numismatic coins accounted for over a quarter of the $20.0 billion increase in U.S. exports of minerals and metals.
  • More than half of the increase in U.S. imports of minerals and metals was accounted for by steel mill products, copper and related articles, and precious metals.

Trade Shifts in 2006 from 2005

  • U.S. trade deficit: Increased $12.1 billion (16 percent) to $86.6 billion
  • U.S. exports: Increased $20.0 billion (32 percent) to $82.9 billion
  • U.S. imports: Increased $32.1 billion (23 percent) to $169.5 billion

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