Question

The following table shows the approximate value of exports and imports for the United States from 1997 through 2001.

Answer 1

Answer:

Year       Exports - Imports          Percentage of GDP

1997        -101.4                            1.22%                      

1998        -161.8                            1.84%

1999        -262.1                           2.80%  

2000       -382.1                           3.84%

2001         -371                              3.61%

We can see that the deficit in grew every year except for the year 2001, when it was reduced a bit. This was because the U.S. began to import more goods than it exported.