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Key Economic Trends

  • In 2010, the U.S. trade deficit for minerals and metals increased by $13.6 billion (42 percent) largely due to greater demand from various downstream U.S. industries arising from the rebounding domestic economy.
  • U.S. exports of minerals and metals grew by $25.6 billion, principally due to rising exports of precious metals and non-numismatic coins; steel mill products; and copper and related articles. Global price increases for key products in these industries, along with greater demand in leading markets, drove much of this growth.
  • The $39.2 billion (34 percent) increase in the value of U.S. imports was also driven by rising prices for raw materials—due to heightened demand in India and China—and the weakening of the U.S. dollar.

Trade Shifts from 2009 to 2010

  • U.S. trade deficit: Increased by $13.6 billion (42 percent) to $46.3 billion
  • U.S. exports: Increased by $25.6 billion (30 percent) to $109.9 billion
  • U.S. imports: Increased by $39.2 billion (34 percent) to $156.2 billion

Selected Product Shifts

USITC Publications

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