If US exports is 8% of its GDP, then it's not "a very very good question" to ask if we export $1.1 trillion in Big Macs. You can say you're serious and you can say it's a good question, but $1.1 trillion in Big Mac exports is idiotic.
post 141 "..BEA statistics show that exported manufactured goods only account for 2.8%...." post 153 "...Bureau of Economic Analysis post 87."
You've got it going from 8% in post 87 to 2.8% in post 141, and neither number has anything to do with GDP numbers for this year --we're now exporting more than we import.
Correct. I was typing too fast. The number is 8%. However, here is the most recent BEA report on balance of payments.
From the report "The deficit on goods and services increased slightly to $177.7 billion in the second quarter from $177.6 billion in the first. ...The deficit on goods increased to $204.2 billion in the second quarter from $200.9 billion in the first."
OOPS! From the BEA:
| 2007 | Change: | ||
| I r | II p | I-II | |
| 1 Exports of goods and services and income receipts...................................... | 558,369 | 586,698 | 28,329 |
| 18 Imports of goods and services and income payments...................................... | -728,472 | -755,031 | -26,559 |
Now importing more than we export. It's the gap that's less.