Exports, Imports and Trade Balance
- The trade deficit in forest products decreased, reversing a 6 year trend, as U.S. exports of forest products increased for the fifth consecutive year as a result of continued favorable exchange rates and strong foreign demand for raw materials such as wood pulp and wastepaper.
- U.S. exports increased by 8 percent to $30.2 billion as all commodity groups continued to benefit from favorable exchange rates, with wood pulp and wastepaper showing the greatest increases.
- Both the value and quantity of lumber and wood panel imports declined in 2006, driven by a drop in demand from the U.S. residential housing market. Rising mortgage rates and higher prices dampened demand for housing, especially among investors, and U.S. inventories of both new and existing homes rose.
Trade Shifts in 2006 from 2005