Access the US Census URL page below where you can download data about trade. You
ID: 1212358 • Letter: A
Question
Access the US Census URL page below where you can download data about trade. You can choose any data file you want for answering the question below. This is the URL for the data files: https://www.census.gov/foreign-trade/statistics/country/index.html
QUESTION: Choose a data set related to trade data and summarize it here..
If you happen to select a data link with an Excel file, that is fine but make sure that you know how to analyze data in Excel. You are not expected to be doing any fancy statistical analysis with the data that you choose. For example, one of those data links is regarding the top trading partners of the US: https://www.census.gov/foreign-trade/statistics/highlights/top/top1603yr.html As you can see that data is already analyzed for you in a very nice way (from top trading partners to bottom ones). You would need to do additional research about the information that you select. For example, that one with the top trading partners of the US shows that Canada has the #1 spot in March 2016. Well, what you could also do is explain what you think would happen to the exchange rate considering the import and export numbers between the US and Canada.
Explanation / Answer
Ending in March 2016, US ended up in exporting $176.6 billion worth of exports of goods and services and imported $217.1 billion. Thus there is a deficit of $40.4 billion.
Among the top trading partners include Canada and China. While Canada had equal footing in exports and imports, China's share was 14% in total trade owing to its goods it exported to the US.
Growing current account deficit could result in future intervention by the Fed to reduce this imbalance by increasing money supply and depriciating the Dollar.