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Friday, October 21, 2011

US Double Exports in 5 years? (by end of 2015?)

Obama proposed we would.

He recently signed some free-trade agreements toward this end.

But I remember thinking at the time he mentioned this how incredibly unlikely doing that would be. The linked article above says the administration says we are well on our way? Well, 1.5 years later, and I would say we are not at all on our way. According to foreign trade figures from the US Census Bureau, we are on track to roughly hit a little over $2 trillion by the end of this year. The US exported about $1.6 trillion in 2009. So, after a year and a half, we can say exports have increased by about 12% during that time - and that is even giving Obama the benefit of the doubt since a good deal of that increase is just due to the slow overall economic recovery since 2009. We are, after all, essentially back to pre-recession levels. Given the continuing uncertainty of recovery, if Obama does get re-elected, he has really put himself in quite a spot and a goal that is unlikely to be realized.

But, if I'm proved wrong, I'll own up to it ;)

6 comments:

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