Chapter 2: Go to www.census.gov/foreign-trade/balance access the recent flow of
ID: 385763 • Letter: C
Question
Chapter 2: Go to www.census.gov/foreign-trade/balance access the recent flow of trade (merchandise and services) between your country and the U. S. Assess the change in the volume of trade between the U. S. and S.K. rather than import and export data. You will also find the additional websites listed in Chapter 2 of your text useful here (such as www.ita.doc.gov) Question 2: Does it appear that business relations between the two countries are increasing or decreasing based on the overall volume of trade between the US and SK?. You may include a graph obtained from your Internet source to facilitate your explanation.Explanation / Answer
In the current year i.e. 2018, there was trade from January 2018 to July 2018 where the value of exports seems to be worth $31,752 & the value of imports seems to be worth $41,638.
Whereas if we take the year 2017, there has been trade throughout the year i.e. from January to December, where the value of exports seems to be worth $48,328 & value of imports were worth $71,444. Hence if we compare both the years data, we can see that the value of exports & imports seem to have reduced compared to 2017
Hence we can conclude that the business relations between the two countries have reduced & also we see in 2018 that the trade has happened only till July & after which there are no information for August which means that he business relationship between the two countries would have either stopped or reduced.
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