World Trade Magazine: Top U.S. Trading Partners
August 7, 2008 by SwizStick
Filed under Education, Misc Logistics, QuickNews
No surprise, really: Canada, China, Mexico, Japan, Germany, UK, South Korea, France, Taiwan, Netherlands. It will be interesting to see what happens to China in the rankings next year as weakened U.S. demand along with rising costs make Chinese imports less attractive while exports to China are on the rise. The article has a brief rundown of each country highlighting 2007 and what to look for in the immediate future. Here’s an excerpt on South Korea:
The economy grew at a still respectable 4.8 percent rate in 2007, driven by goods exports and household consumption, itself spurred by an increase in disposable income and a wealth effect caused by rising property and stock market prices. Buoyant foreign demand benefited electronics, the automotive industry and shipbuilding in 2007. The country should prove relatively insensitive to the slowdown in 2008 in the United States, which represents only 15 percent of South Korean exports. In these conditions, the Coface payment experience has generally been good. Large innovative companies continue to post high profits albeit eroded by the won appreciation. Small companies focusing on the domestic market have been weaker.
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