Important Daily News You Need to Know, Today's Issue: U.S. Exports

The United States is still one of the world's leading exporters, but our share of the global total is shrinking. More importantly, while we do indeed export huge amounts of products each year, we import far more. According to the U.S Department of Commerce, in 2009 the United States imported roughly $2.5 trillion worth of goods from other countries. At the same time, the U.S. exported $1.8 trillion to other countries.

Our export figure is large, but the import number is far larger. We exported only 72 percent of the value that we imported, and as a result we suffered a net loss of $695 billion at year's end. Those who favor America's current trajectory in international trade will quickly point to the fact that our imports fell more than our exports during the year. Imports fell by more than 23 percent from the previous year, while exports dropped just under 15 percent in the same time period. Technically our export market gained a little ground and moved toward balance, but at this current pace it will be decades before the two reach equilibrium with one another.

Furthermore, our exports did not gain ground on imports because America suddenly had more capacity or better products – remember, the overall totals actually fell. Our import figures lost huge sums because the economy was tanking and Americans did not have any money to spend on anything. Had the recession not curbed disposable income we would have seen imports continue to grow, while more of our money flowed overseas to foster developing economies around the world.

The relationship we have with trading partners also changed during the year. Our imports from Canada fell off precipitously in 2009, dropping 33.8 percent. At the same time our imports from Mexico also dropped significantly, losing 18.2 percent. For the most part, this was related to Americans not buying cars (many GM and Ford vehicles are made in Canada and Mexico respectively) and not buying as much gas. The gas they were buying was also less expensive in 2009 as a result of market corrections after the price spike in Summer 2008. Free trade proponents will point to the appearance of parity as a sign that their model works, in reality all it does is cover up the underlying problems.

Shockingly, there is one area where the U.S. export economy is booming; unfortunately it isn't exactly a sector upon which we can rebuild our manufacturing prowess.

According to U.S. News & World Report, the one U.S. commodity that has become a booming business in China is our trash and scrap export. The United States has nowhere to send much of the waste it produces in daily activities. Waste paper, scrap metal, and other burdens are being shipped to China at a rapidly growing rate to either be recycled or be disposed of in landfills – the U.S. is rapidly running out of usable landfill space, while China has no qualms about pressing waste facilities close in with population centers.

This development is truly a microcosm of what America has become. Despite the immensity of our export economy, the sheer volume of imports completely drowns it out. The few goods that are exported from this country are often merely assembled of imported components. The one honest “American” good being shipped overseas in significant quantities is our garbage and waste, which we produce in such volumes due to our consumption-heavy lifestyles that we no longer have the time, space, or manpower to adequately deal with.