Managing Imports and Exports

As U.S. trade pros are well aware, global trade is posting sharp declines. Other nations’ exports have suffered as the United States—the world’s biggest importer—registered a decline of close to $50 billion in imports between July and November 2008 alone. The United States, the world’s second-largest exporter, saw exports fall by about $25 billion for the same period. The Wall Street Journal has calculated that for a group of 43 major trading nations exports peaked at $1.03 trillion in July 2008, dropping 26 percent to $766 billion by November 2008.