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Key Economic Trends
- The U.S. machinery trade deficit decreased by $10.7 billion (30 percent) to $24.7 billion in 2009 as U.S. machinery imports dropped faster than machinery exports. U.S. exports of machinery decreased by $21.4 billion to $85.4 billion, while U.S. imports fell by $32.0 billion to $110.1 billion. Both imports and exports decreased for most product groups in this sector due to the global economic downturn, particularly decreases in consumer spending, new home construction, capital investment by businesses, and available financing.
- U.S. exports of machinery decreased in almost all product groups. Export decreases of more than $2 billion occurred in semiconductor manufacturing equipment and robotics (down by $3.7 billion), farm and garden machinery and equipment (down by $2.8 billion), and miscellaneous machinery (down by $2.3 billion).
- • U.S. imports of machinery decreased in all sectors except two, with decreases of at least $2 billion in electric motors, generators and related equipment (down by $2.8 billion), miscellaneous machinery (down by $2.6 billion), metal cutting machine tools (down by $2.5 billion), air conditioning equipment and parts (down by $2.3 billion), and taps, cocks, valves, and similar devices (down by $2.2 billion).
Trade Shifts from 2008 to 2009
- U.S. trade deficit: Decreased by $10.7 billion (30 percent) to $24.7 billion
- U.S. exports: Decreased by $21.4 billion (20 percent) to $85.4 billion
- U.S. imports: Decreased by $32.0 billion (23 percent) to $110.1 billion
Selected Product Shifts
Gardner Publications Inc. - Metalworking Insiders' Report
Metal Center News Online - 2009 Directory of Toll Processors
National Association of Home Builders
National Association of Manufacturers - The Manufacturing Institute
The Association of Electrical and Medical Imaging Equipment Manufacturers (NEMA)
Precision Manufacturing Institute