 Page 2
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 3Page 4
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 5Page 6
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 7Page 8
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 9Page 10
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 11Page 12
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 13Page 14
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 15Page 16
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 17Page 18
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 19Page 20
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 21Page 22
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 23Page 24
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent Page 25Page 26
Canada reflected the continued relocation of production to Mexico from Canada. Strikes at a U.S. manufacturer late in the year also slowed parts and passenger cars to Canada. Consumer goods increased $5.7 billion, or 9 percent, to $70.2 billion in 1996, up from a 7-percent increase. Quantity increased 8 percent, following a 6-percent increase. In value, shipments picked up substantially to Latin America, especially Mexico, and picked up slightly to Western Europe. Agricultural products increased $4.2 billion, or 7 percent, to $61.4 billion in 1996, down from a 22-percent increase in 1995. The slowdown was largely in quantity, which shifted to a 2-percent decrease from a 12-percent increase. In value, a recovery in world production of cotton sharply reduced U.S. cotton exports, while shortfalls in world production of feeds and grains led to record U.S. corn and soybean exports. Wheat exports reached the highest level since 1984. Soybeans increased $1.9 billion, up 12 percent in quantity and up 24 percent in price. In value, increases were largely to China, Mexico, the newly industrialized countries in Asia, and other developing countries in Asia. Corn increased $1.2 billion, down 16 percent in quantity and up 32 percent in price. In value, shipments to Mexico alone accounted for $0.7 billion of the rise, as severe drought spurred demand for imported grains and feeds. Shipments to Japan increased $0.6 billion, and shipments to China decreased $0.6 billion as Chinese production recovered from diminished output during the 1994-95 crop year. Wheat increased $0.7 billion, down 4 percent in quantity and up 17 percent in price. In value, increases were mostly to Mexico, Brazil, Japan, and Africa. Cotton decreased $1.0 billion, down 15 percent in quantity and up 11 percent in price, as foreign output recovered and eased the tight supply situation
increase. Quantity increased 12 percent, down from a 22-percent increase. Prices decreased 7 percent, following a 2-percent decrease, as computer and semiconductor prices declined even more rapidly than in 1995. In value, an oversupply of semiconductors led to a $2.3 billion decrease, following a $12.9 billion increase, and a dropoff in sales of computers led to an increase of only $5.2 billion, following an increase of $10.1 billion; growth had been exceptionally strong in 1991-95 for both semiconductor and computer imports. Telecommunications equipment decreased $1.0 billion, following an increase of $1.1 billion. "Other” industrial, agricultural, and service industry machinery also increased by a substantially smaller amount than in 1995 (table I). Nonpetroleum industrial supplies and materials increased $7.3 billion, or 6 percent in 1996, down from a $15.2 billion increase. Quantity increased 7 percent, compared with a 4-percent increase. Prices decreased 2 percent, in contrast to a 9-percent increase. In value, paper and paperbase products decreased following an exceptionally large increase in 1995; prices fell 8 percent in 1996, following a 38-percent increase in 1995. Chemicals, after exceptional increases in 1994-95, also increased less in value, and included a 2-percent decrease in prices. Bauxite and aluminum, largely from Russia and Canada, were sharply lower. Other categories showing increases in value were lumber (largely from Canada), building materials, iron and steel mill products, and nonmonetary gold (tables F and I). Consumer goods increased $11.1 billion, or 7 percent, to $171.1 billion in 1996, down from a 9percent increase. Quantity increased 7 percent, down from an 8-percent increase. Consumer goods from Hong Kong, the Republic of Korea, Singapore, and Taiwan decreased sharply, while those from China increased. Household products and toys increased the most. Television, radio, and stereo products decreased. Automotive products increased $5.3 billion, or 4 percent, to $130.0 billion in 1996, down from a 6-percent increase. Quantity increased 4 percent, following a 3-percent increase. Completed cars from Canada fell, as a result of both strikes at a U.S. manufacturer late in the year and the continuing transfer of assembly operations to Mexico. Imports of cars and parts from Japan continued to decline. New car sales in the United States decreased 1 percent. Petroleum imports increased $13.2 billion, or 24 percent, to $68.3 billion in 1996, up from a 7-percent increase. Nearly all of the increase in
Imports.—Nonpetroleum imports increased $36.8 billion, or 5 percent, to $731.0 billion in 1996, down from a 12-percent increase in 1995. Quantity increased 8 percent, down from a 10-percent increase. In value, capital goods slowed to a $7.5 billion increase in 1996 from a $37.1 billion increase in 1995, and nonpetroleum industrial supplies and materials slowed to a $7.3 billion increase from a $15.2 billion increase. Automotive products and consumer goods slowed by only small amounts (chart 5). Capital goods increased $7.5 billion, or 3 percent, to $229.0 billion in 1996, down from a 20-percent |
When the price of a product is increased 12 percent the quantity demanded decreases 6 percent?
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