us trade 2018

This method preserves the pattern of the monthly indicator series, if available, while satisfying the annual aggregation constraints. Acknowledgements ... World Trade Statistical Review 2018 WTO18 Chapter 01 v9.indd 4 06/08/2018 16:09. These services do not include the value of the information transmitted. EU and US investments are the real driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic. Imports from Mexico rose $32.3 billion (10.3 percent), while imports from Canada grew by $19.2 billion (6.4 percent) in the same period (table US.3). [31] USITC DataWeb/USDOC, digest EL003 (accessed March 15, 2019). The next release of the ITAs is scheduled for March 27, 2019. In 2018 United States imported $2.41T, making it the number 1 trade destination in the world. Travel (for all purposes including education) increased $10.1 billion. Table reflects only those months for which there was trade. The FT-900 and the FT-900 Supplement are available at www.census.gov/ft900 or www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services. U.S. exports of telecommunications equipment decreased $2.1 billion (5.4 percent) due to a decline in exports to France, Hong Kong, and Spain. Contact Us. The 2018 increase in the goods and services deficit reflected an increase in the goods deficit of $83.8 billion, or 10.4 percent, to $891.3 billion and an increase in the services surplus of $15.0 billion, or 5.9 percent, to $270.2 billion. Information services include news agency services, database services, and web search portals. What are special provision exports and imports? Charges for the use of intellectual property n.i.e. Exports of services decreased less than $0.1 billion to $69.5 billion in December. Current general fact-finding investigations being conducted by the Offices of Economics and of Industries. Strategic Plan. Recent Trends The exception is exhibit 17a, which shows CIF import value. Goods are initially classified under the Harmonized Commodity Description and Coding System (Harmonized System), which is an internationally accepted standard for the commodity classification of traded goods. Deficits were recorded, in billions of dollars, with China ($38.7), European Union ($15.8), Mexico ($8.8), Germany ($5.7), Japan ($5.5), Italy ($3.0), South Korea ($1.7), Taiwan ($1.6), France ($1.5), India ($1.4), OPEC ($1.3), Saudi Arabia ($1.2), and Canada ($0.7). 2018 Trade Shifts Home Financial services - Includes financial intermediary and auxiliary services, except insurance services. The surplus with South and Central America increased $7.3 billion to $41.5 billion in 2018. See the Advance Report Frequently Asked Questions for more information. or use our feedback form! Because only goods trade on a Census basis by principal end-use category is available in the Advance Report, BEA applies adjustments, such as BOP and coverage adjustments, to the Advance Report statistics to produce detailed estimates for incorporation into the advance GDP estimate. U.S. Trade by Industry Sector and Selected Trading Partners In addition, U.S. imports of coffee and tea decreased $596 million (8.3 percent), driven by lower imports of these products from Canada, Vietnam, Colombia, and Brazil. Travel includes business and personal travel. Merchandise Trade, 2014, 2015, https://www.usitc.gov/research_and_analysis/trade_shifts_2014/trade_metrics.htm. The trade relationship of the United States with Canada is the second largest in the world after China and the United States. Cell phones and other household goods increased $0.6 billion. Exports decreased $9.6 billion to $120.3 billion and imports increased $34.0 billion to $539.5 billion. The U.S. runs the biggest trade deficits with China, Mexico, and Japan. For goods on a BOP basis and for services, European Union and OPEC reflect the composition of the areas at the time of reporting. [1] General imports increased at a higher rate, reaching their highest levels since 2014 (table US.1), while U.S. total exports rose by $117 billion (7.6 percent) to nearly $1.7 trillion from 2017 to 2018. The deficit with India decreased $0.4 billion to $1.4 billion in December. Nonetheless, this increase is far larger than the $6 million increase in footwear imports from 2016 to 2017. U.S. foreign direct investment (FDI) in China (stock) was $116.2 billion in 2019, a 6.3% increase from 2018. Although not the target of the trade dispute, U.S. tariffs have precipitated drops in commodity prices, local currencies, and major stock exchanges. Industrial supplies and materials increased $68.4 billion. For November, revised export carry-over was $0.2 billion (0.1 percent) and revised import carry-over was $0.1 billion (less than 0.1 percent). (For more information, see the Agricultural Products, Electronic Products, Transportation Equipment, and Minerals and Metals chapters.). The U.S. monthly international trade deficit increased in October 2020 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. In addition to revisions to source data for the November statistics, October imports of electric energy, a component of industrial supplies and materials, were revised to incorporate a $0.2 billion correction to source data. We provide high-quality, leading-edge analysis of international trade issues to the President and the Congress. The most significant of these include reporting errors, undocumented shipments, timeliness, data capture errors, and errors in the estimation of low-valued transactions. External links to other Internet sites should not be construed as an endorsement of the … USITC’s Strategic Plan, Budget, and Performance Reports, Information about the agency, the mission, & history, Administrative Law Judge (ALJ) biographies and photos, USITC’s Strategic Plan, Budget, and Annual Reports, USITC’s role and activities in conducting antidumping (AD), countervailing duty (CVD), and review (Five-year Sunset) and Global/Bilateral Safeguards investigations, A listing of Probable Effect Studies, Industry Assessments and Negotiation Background Information, Information about the USITC’s role and activities in conducting unfair import investigations under Section 337, Antidumping (AD), Countervailing Duty (CVD) and Safeguard Investigations. 2018 Special 301 Report . Organization of Petroleum Exporting Countries (OPEC): Algeria, Angola, Congo (Brazzaville), Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela. Several recurring reports are published annually as part of the Commission’s mission to provide independent tariff, trade, and competitiveness-related analysis and information. These investigations often concern the likely impact of changes in trade policy such as trade agreements on the U.S. economy, industries, and workers or provide assessments of U.S. industries. Other industrial machines increased $5.1 billion. United States Trade Representative Robert Lighthizer gratefully acknowledges the News and analysis of US trade policy, including the evolution and impact of US free-trade agreements (such as the revised free-trade agreement between the United States, Mexico and Canada), and important trade disputes involving violations of international law. How are trading partner/regional groups defined? Trade (% of GDP) from The World Bank: Data. Goods trade in the Advance Economic Indicators Report. 2018 International Trade Webinars Archive. Though the Code of Federal Regulations (CFR) and the Federal Register remain the official source for the text of the USITC's rules, these electronic versions are provided as a convenience. Deficits were recorded, in billions of dollars, with China ($419.2), European Union ($169.3), Mexico ($81.5), Germany ($68.3), Japan ($67.6), Ireland ($46.8), Italy ($31.6), Malaysia ($26.5), India ($21.3), OPEC ($21.2), Canada ($19.8), Thailand ($19.3), Switzerland ($18.9), South Korea ($17.9), France ($16.2), Taiwan ($15.5), Russia ($14.1), Indonesia ($12.6), and Saudi Arabia ($10.5). The three top markets for U.S. exports—China, Canada, and Mexico—were also the top three suppliers of merchandise to the United States. [12] USITC DataWeb/USDOC, digest EP005 (accessed March 15, 2019). Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR): Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Nicaragua. USDA agricultural goods and NAICS manufactured goods are not mutually exclusive categories. Ambassador to Egypt Jonathan R. Cohen noted, “These grant agreements total $1.4 million and underscore the mutual focus of Egypt and the United States on expanding the robust trade and investment relationship between our countries. Intellectual Property Rights Infringement, Public Notices of Commission Meetings and Hearings, Federal Register Notices and other Commission public notices, Public Notices of Commssion Meetings and Hearings, Federal Register Notices and Commission Notices, All USITC Publications, Opinions, including Recent Trends in Services Trade, Year in Trade, Trade Shifts, Safeguards, Annual Reports, Statutory Reports and Studies, Working Papers, The Journal of International Commerce and Economics, Executive Briefings on Trade, A listing of USITC Commission Publications and Opinions & Reports, Staff Research Papers, Working Papers, The Journal of International Commerce and Economics, The Executive Briefings on Trade, Harmonized Tariff Schedule (HTS), HTS search, Tariff Databases, Modifications to Tariffs, Quick lookup of U.S. Services are shown in nine broad categories. The FT-900 is the primary source for the goods trade data used in BEA's quarterly gross domestic product (GDP) statistics. Share. [10] U.S. exports of soybeans (HTS 1201.90.0095) led the decrease in exports of oilseeds to China. Census Bureau's application programming interface (API): The Census Bureau's API, available at www.census.gov/developers/, lets developers create custom apps to reach new users and makes key demographic, socio-economic, and housing statistics more accessible than ever before. The General Imports value reflects the total arrival of merchandise from foreign countries that immediately enters consumption channels, warehouses, or Foreign Trade Zones. For services, CAFTA-DR is not available because trade with this area's member countries cannot be separately identified. Additions for sales of fish caught in U.S. territorial waters, exports of electricity to Mexico, private gift parcels, vessels and oil rigs for which ownership changes, valuation of software exports at market value, low-value (below reporting threshold) transactions for 1999–2009 to phase in a revised Census Bureau low-value methodology that was implemented for goods on a Census basis beginning with statistics for 2010, and, for periods prior to 2010, FMS goods exports reported to BEA by the U.S. Department of Defense. About 500 of some 22,000 Schedule B and Harmonized Tariff Schedule classification codes used in reporting U.S. merchandise trade are identified as "advanced technology" codes, and they meet the following criteria: The aggregation of the goods results in a measure of advanced technology trade that appears in exhibits 16 and 16a. The United States did not experience deficit growth in all merchandise sectors.   Textiles and Apparel These revisions result from forcing the seasonally adjusted months to equal the annual totals. The services statistics cover transactions between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and other U.S. territories and possessions. Real Goods in 2012 Dollars – Census Basis (exhibit 11). Also, the seasonally adjusted goods data were revised for January through November so that the totals of the seasonally adjusted months equal the annual totals. Gold exports, nonmonetary - This addition is made for gold that is purchased by foreign official agencies from private dealers in the United States and held at the Federal Reserve Bank of New York. The largest increase in value occurred in the chemicals and related products sector, which gained $43.1 billion (16.1 percent). However, for the advance GDP estimate, FT-900 data for the third month are not yet available, so BEA uses data from the Advance Report. 2018 : U.S. trade in goods with India . [6] However, the drop in exports of U.S. oilseeds (down $4.3 billion, or 19.9 percent) partly offset the gains in exports of other agricultural products. The average goods and services deficit increased $1.5 billion to $55.5 billion for the three months ending in December. Business travel also includes expenditures by border, seasonal, and other short-term workers in their economy of employment. Figure US.2 Total trade between the United States and its five largest single-country trading partners, 2018 (billion $), While the value of U.S. exports to China decreased by $9.6 billion (7.4 percent) from 2017 to 2018, the value of exports to Canada and Mexico increased over the same period, gaining $16.5 billion (5.8 percent) and $21.7 billion (8.9 percent), respectively. Computer accessories increased $2.5 billion.   Forest Products [20] USITC DataWeb/USDOC, digest EL015 (accessed March 15, 2019). Euro Area: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain. Several topics, in their own way, impact US trade policy, some more immediately than others, some more emphatically than others, and still others less so. Goods procured in foreign ports by U.S. carriers - This addition is made for U.S. air and ocean carriers' fuel purchases in foreign ports. The decline in US exports took place even before trade war rhetoric between the United States and China began to heat up. [8] In 2018, China, Canada, and Mexico, combined, accounted for 45 percent of the total U.S. trade. The increase in U.S. exports to Canada was led by gains in both the volume and the average price of crude petroleum[11] and petroleum products. Monthly revisions: Each month, a preliminary estimate for the current month and a revised estimate for the immediately preceding month are released. Merchandise Trade summary statistics data for United States (USA) including exports and imports, applied tariffs, top export and import by partner countries and top exported/imported product groups, along with development indicators from WDI such as GDP, GNI per capita, trade balance and trade as percentage of GDP for year [27] USITC DataWeb/USDOC, digest MM020 (accessed March 15, 2019). In particular, exports of oilseeds dropped $4.3 billion (19.9 percent), driven by a reduction in exports to China (table US.2).   Electronic Products The December figures show surpluses, in billions of dollars, with South and Central America ($3.5), Hong Kong ($2.2), Brazil ($0.8), United Kingdom ($0.6), and Singapore ($0.4). Imports of goods were revised up $0.2 billion. Services primarily include those for which an explicit commission or a fee is charged; implicit fees for bond transactions, measured as the difference between bid and ask prices, are also included. Imports of goods increased $202.2 billion to $2,563.1 billion in 2018. The Census data only include gold that leaves the U.S. customs territory. The Harmonized System describes and measures the characteristics of the goods and is the basis for the systems used in the United States: Schedule B for exports and Harmonized Tariff Schedule for imports. US-China trade war: 'We're all paying for this' Negotiations are ongoing but have proven difficult. Average imports decreased $0.4 billion to $263.7 billion in December. The interpolation methodology used by BEA is the modified Denton proportional first difference method. Please see our, EMBARGOED UNTIL RELEASE AT 8:30 A.M. EST, WEDNESDAY, MARCH 6, 2019, U.S. Census Bureau, Economic Indicators Division, International Trade, U.S. Census Bureau, Public Information Office, 4600 Silver Hill Road • Suitland, MD 20746, www.census.gov/foreign-trade/Press-Release/current_press_release/index.html, www.bea.gov/data/intl-trade-investment/international-trade-goods-and-services, U.S. Trade in Goods and Services, 1992-present, U.S. Trade in Goods and Services by Selected Countries and Areas, 1999-present, Seasonal Adjustment by Selected Countries and Areas, Frequently Asked Questions, U.S. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. The trade deficit is the result of exporting goods and services worth about $2.5 trillion while importing goods and services worth about $3.12 trillion. The medicinal chemicals product group drove the increase in U.S. imports in this sector, gaining $24.0 billion (21.4 percent) and accounting for about 56 percent of the sectoral increase. - Includes charges for the use of proprietary rights, such as patents, trademarks, and copyrights, and charges for licenses to use, reproduce, distribute, and sell or purchase intellectual property. (For more information, see the Energy-related Products, Chemicals and Related Products, and Transportation Equipment chapters. Each month, the U.S. Census Bureau revises the aggregate seasonally adjusted (current and real, or chained-dollar) and unadjusted export, import, and trade balance figures, as well as the end-use totals for the prior month. The United States had a services trade surplus of an estimated $36 billion with China in 2019, down 4.1% from 2018. What are special provision exports and imports? The value of U.S. exports of chemicals and related products, as well as transportation equipment, posted the next-largest gains in 2018, growing by $15.7 billion (7.0 percent) and $12.4 billion (3.8 percent), respectively.   Energy and Related Products Ambassador Robert E. Lighthizer Announces USTR Annual Awards During Virtual Event. Adjustments that exhibit significant seasonal patterns are seasonally adjusted. Why is this information prepared? (°) Statistical significance is not applicable or not measurable. Quality assurance procedures are performed at every stage of collection, processing, and tabulation. Quarterly and annual statistics for goods on a BOP basis and for services are included in the U.S. international transactions accounts (ITAs), which are published by BEA in news releases in March, June, September, and December and in the Survey of Current Business in the January, April, July, and October issues. The deficit increased from $62.1 billion in September (revised) to $63.1 billion in October, as imports increased more than exports. Exports increased $148.9 billion or 6.3 percent. In 2016, the goods and services trade between the two countries totaled $627.8 billion. [17] USITC DataWeb/USDOC, digest MS009 (accessed March 15, 2019). [18] USITC DataWeb/USDOC, digest CH033 (accessed March 15, 2019). 2 Section 201 tariff-rate quotas for washing machines were effective February 7, 2018, for all countries except Canada and most Generalized System of Preferences (GSP) beneficiary countries (except Thailand). Which 8-digit HTS subheadings are included in each? Tariff Data for specific products, Tariff Programs, Miscellaneous Tariff Bill Petition System (MTBPS), Harmonized Tariff Schedule (HTS), HTS Search, Modifications, E-Learning Module & Help, Future Tariff Rates, Quick lookup of U.S. Imports by U.S. military agencies - This addition is made for purchases of goods abroad by U.S. military agencies, which are reported to BEA by the Department of Defense. Goods by Selected Countries and Areas – Census Basis (exhibits 14 and 14a). For more information, see the Agricultural products chapter in this report. Imports of goods on a Census basis increased $200.8 billion. This estimate improves the current month data for exports to Canada and treats late receipts for exports to Canada in a manner that is more consistent with the treatment of late receipts for exports to other countries. See the "Key Source Data and Assumptions" table that accompanies each GDP release for more information. Copy link. Imports of services increased $0.5 billion to $47.7 billion in December. NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. 2018 : U.S. trade in goods with Russia . Civilian aircraft engines increased $7.9 billion. The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. More than 42.1% of the U.S. trade deficit in goods is with China. The deficit with China increased $3.2 billion to $38.7 billion in December. Print. Covering more than 200 nations; over 400 airports, seaports and border crossings; and more than 900 export and 900 import commodities. Data for U.S. exports to Canada are derived from import data compiled by Canada. (For more information, see the Agricultural Products chapter. As a percentage of U.S. gross domestic product, the goods and services deficit was 3.0 percent in 2018, up from 2.8 percent in 2017. Office of the United States Trade Representative . Trade Balance. Research and development services include services associated with basic and applied research and experimental development of new products and processes. The Commission is a highly regarded forum for the adjudication of intellectual property and trade disputes. Most errors involve missing or invalid commodity classification codes and missing or incorrect quantities or shipping weights. Among the agricultural products that saw increases were cereals ($2.4 billion, 13.1 percent),[4] animal feeds ($2.0 billion, 16.7 percent),[5] and cattle and beef ($1.1 billion, 15.2 percent). (For more information, see the Transportation Equipment and Agricultural Products chapters.). December imports were $264.9 billion, $5.5 billion more than November imports. [14] Exports of U.S. merchandise to other major trading partners such as Japan, Germany, South Korea, and the United Kingdom also experienced gains over the previous year (table US.3). Although all sectors experienced growth in the value of their exports, some product groups within the sectors experienced a decline, lessening the overall sectoral gains. Gold imports, nonmonetary - This addition is made for gold sold by foreign official agencies to private purchasers out of stock held at the Federal Reserve Bank of New York. Table reflects only those months for which there was trade. The next largest suppliers of merchandise to the United States were Mexico and Canada, accounting for 26 percent of the total imports in 2018. Goods (BOP basis) and services by country and area. [29] USITC DataWeb/USDOC, digest EP004 (accessed March 15, 2019). Contact the International Trade Macro Analysis Branch: Email us! EU investment in the US is around eight times the amount of EU investment in India and China together. The China–United States trade war (Chinese: 中美 贸易战; pinyin: Zhōngměi Màoyìzhàn) is an ongoing economic conflict between China and the United States.President Donald Trump in 2018 began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are "unfair trade practices". For imports, the value reported is the CBP-appraised value of merchandise—generally, the price paid for merchandise for export to the United States. [22] USITC DataWeb/USDOC, digest MM038 (accessed March 15, 2019). 1.   Transportation Equipment, Special Topic: Section 232 and   301 Trade Actions in 2018, Companion Data Set [XLSX] 2017 Features of ACE Exports Archive. African Development Bank experts warn that the trade tensions could cause a 2.5 percent reduction in GDP Deductions for equipment repairs (parts and labor), repairs to U.S. vessels abroad, and developed motion picture film. Statement on the United States - Central Asia Trade and Investment Framework Agreement Meanwhile, U.S. exports of aircraft engines and gas turbines declined $766 million (7.7 percent), a decrease that was led by lower exports to countries including Saudi Arabia, Hungary, Singapore, and Canada. In 2018, the biggest trade deficits were recorded with China, Mexico, Germany, Japan, Ireland, Vietnam and Italy and the biggest trade surpluses with Hong Kong, Netherlands, Australia, United Arab Emirates, Belgium, Brazil and Panama. Agricultural goods are defined by the U.S. Department of Agriculture (USDA); they consist of non-marine food products and other products of agriculture that have not passed through complex processes of manufacture. This column scrutinises global stock market responses to assess the effects of the trade war and finds that, on average, the US and Chinese tariffs have The statistics provide detail on U.S. trade in services by type and by country and area and detail on services supplied through affiliates by industry and by country and area. The US trade shortfall rose to US$375.6 billion in 2017 before the start of the trade war, from US$103.1 billion in 2002. Real imports of goods increased $7.9 billion to $238.4 billion. As regulations regarding cross-border trade continue to increase, international shippers need to mitigate their risks [24] USITC DataWeb/USDOC, digest TE009 (accessed March 15, 2019). [25] USITC DataWeb/USDOC, digest TE009 (accessed March 15, 2019). The United States has a services trade deficit of an estimated $5.4 billion with India in 2019, down 4.6% from 2018.   Japan Pharmaceutical preparations increased $23.7 billion. After the initial revision, no further revisions are made to a month until more complete source data become available in March, June, September, and December. Average exports decreased $1.8 billion to $208.2 billion in December. In particular, it grew by $27.2 billion (66.9 percent) for chemicals and related products––the largest increase in 2018. Combining trade into approximately 140 export and 140 import end-use categories makes it possible to examine goods according to their principal uses (see exhibits 7 and 8). Cross-border transactions in non-customized packaged software with a license for perpetual use are included in goods. The U.S. Census Bureau reported that the U.S. goods trade deficit reached a record of $891.3 billion in 2018, an increase of $83.8 billion (10.4 percent).The broader goods and services deficit reached $621.0 billion in 2018, an increase of $68.8 billion (12.5 percent). The 2018 figures show surpluses, in billions of dollars, with South and Central America ($41.5), Hong Kong ($31.1), Netherlands ($24.8), Australia ($15.2), and Belgium ($14.2). A message from Director-General Roberto Azevêdo Faster trade expansion is being driven by stronger growth across most regions, especially i n developing economies. BEA also publishes more detailed quarterly and annual statistics for net adjustments in ITA Table 2.4. Services are seasonally adjusted when statistically significant seasonal patterns are present.   Minerals and Metals This page provides access to an archive of News Releases previously published by the Bureau of Economic Analysis. Purchases can be either for own use or for gifts to others. U.S. International Trade in Goods, Balance of Payments Adjustments and in the January, April, July, and October issues of the Survey of Current Business. [13] USITC DataWeb/USDOC, digest EP005 (accessed March 15, 2019). As regulations regarding cross-border trade continue to increase, international shippers need to mitigate their risks ), Table US.1 U.S. total exports, general imports, and merchandise trade balance, by major industry/commodity sectors, 2014–18, Figure US.1 Total U.S. exports, general imports and trade balance, 2014–18 (billion $). [28] USITC DataWeb/USDOC, digest EL017 (accessed March 15, 2019). In accordance with the Government in the Sunshine Act of 1976, USITC fosters transparency by posting public notices of Commission meetings and hearings. The release schedule for the "U.S. International Trade in Goods and Services" report for the remainder of 2019 has been revised to reflect delays related to the recent lapse in federal funding. USITC DataWeb/USDOC (accessed March 15, 2019).   Machinery Merchandise trade statistics data for United States (USA) exports, to partner countries including trade value, number of product exported, Partner Share, and share in total products for year 2018 They will also help Egypt achieve its goal of becoming a regional energy hub, which is also priority for the United States.” Exports increased $0.6 billion to $3.3 billion and imports increased $0.3 billion to $4.7 billion. The Census data only include imports of goods by U.S. military agencies that enter the U.S. customs territory. Other petroleum products increased $14.4 billion. Exports of services increased $30.4 billion to $828.1 billion in 2018. Average exports increased $6.2 billion from December 2017. Civilian aircraft decreased $1.0 billion. An open and transparent process for the submission and consideration of requests for temporary duty suspensions and reductions. Business travel covers goods and services acquired for use by persons whose primary purpose for travel is for business (including goods and services for which business travelers are reimbursed by employers). All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Exports are valued at the f.a.s. This was the second year in a row of export growth, after two years of declining exports in 2015 and 2016. [6] USITC DataWeb/USDOC, digest AG002 (accessed March 15, 2019). The United States-Nepal Council on Trade and Investment, under the United States-Nepal Trade and Investment Framework Agreement (TIFA) View Full Release.

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