U.S.-China trade and job displacement, 2001–2012
| Change (billions) | Percent change | |||||
|---|---|---|---|---|---|---|
| 2001 | 2008 | 2012 | 2001–2012 | 2008–2012 | 2001–2012 | |
| U.S. trade with China ($ billions, nominal) | ||||||
| U.S. domestic exports* | $18.0 | $67.2 | $103.5 | $85.6 | $36.3 | 476.4% |
| U.S. imports for consumption | $102.1 | $337.5 | $424.9 | $322.8 | $87.4 | 316.3% |
| U.S. trade balance | -$84.1 | -$270.3 | -$321.4 | -$237.3 | -$51.0 | 282.1% |
| Average annual change in the trade balance | -$23.7 | -$17.0 | 14.3% | |||
| Change (thousands of jobs) | Percent change | |||||
| U.S. trade-related jobs supported and displaced (thousands of jobs) | ||||||
| U.S. domestic exports-jobs supported | 169.4 | 547.9 | 751.1 | 581.7 | 203.2 | 343.5% |
| U.S. imports for consumption-jobs displaced | 1,139.5 | 3,598.1 | 4,660.7 | 3,521.3 | 1,062.6 | 309.0% |
| U.S. trade deficit-net jobs displaced | 970.1 | 3,050.2 | 3,909.7 | 2,939.6 | 859.5 | 303.0% |
| Average annual change in net jobs displaced | 294.0 | 286.5 | 15.0% | |||
*Domestic exports are goods produced in the United States and exclude re-exports, i.e., goods produced in other countries and shipped through the United States. Total exports as reported by the U.S. International Trade Commission include re-exports. Total exports were estimated to be $110.6 billion in 2012, and U.S. re-exports to China represented 6.4 percent of total exports. The employment estimates shown here are based on domestic exports only. See endnote 9 for additional details.
Source: Author's analysis of U.S. Census Bureau (2013a), U.S. International Trade Commission (USITC 2013), Bureau of Labor Statistics (BLS 2013b), and BLS Employment Projections program (BLS-EP 2011a and 2011b). For a more detailed explanation of data sources and computations, see the appendix
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