Question 2.353

tradedeficits

23. Trade Deficit. Table 47 presents the annual trade deficits (imports minus exports) for the United States from 1991 to 2013, in billions of dollars.

  1. Construct a time series plot of the data.
  2. Describe any trends that you see.
Table 2.109: TABLE 47 U.S. trade deficits
Year Trade deficit
in $ billions		 Year Trade deficit
in $ billions
1991 31 2003 494
1992 39 2004 609
1993 70 2005 714
1994 98 2006 759
1995 96 2007 702
1996 104 2008 698
1997 108 2009 374
1998 166 2010 495
1999 264 2011 548
2000 379 2012 538
2001 364 2013 476
2002 421
Table 2.109: Source: U.S. Census Bureau.

2.99.23

(a)

image

(b) The trade deficit generally increased from 1991 to 2006, then it generally decreased from 2006 until 2009, then it increased from 2009 until 2011, and then it decreased from 2011 to 2013.