WASHINGTON—U.S. Commerce Secretary Carlos M. Gutierrez today issued the following statement on the release of the June 2007 U.S. International Trade in Goods and Services report by the Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report shows that U.S. exports increased by 11.0 percent to $779.2 billion year-to-date (through June) over the same period in 2006. Imports increased 4.4 percent to $1,132.0 billion. The deficit narrowed 7.7 percent or $29.5 billion compared to the same period in 2006.
“U.S. exports for the first half of 2007 continued their exceptional growth and once again have hit an all-time high, reflecting the strength and competitiveness of American manufacturers and agriculture in world markets. Exports were also a very important contributor to last quarter's real gross domestic product (GDP), which grew at 3.4 percent. President Bush is committed to helping Americans benefit from the world economy. The best thing Congress can do this year to help attain that goal is to pass the pending Free Trade Agreements with Peru, Colombia, Panama, and Korea.
“The overwhelming majority of these countries' exports already enter the United States duty free while U.S. exports to these countries face significant tariffs. These four FTAs will level the playing field and open new export opportunities for American businesses, workers, farmers and ranchers.”
Source: U.S. Department of Commerce
