U.S. trade with TPP countries and effect on GDP, 2015 (billions of dollars)
| Exports | $680.1 |
|---|---|
| Imports | $858.0 |
| Trade balance | -$177.9 |
| U.S. GDP | $17,937.8 |
| U.S. GDP lost as a result of TPP trade deficit | -$284.6 |
| U.S. GDP lost to TPP as a share of GDP | -1.6% |
Note: The GDP effect of the trade deficit is estimated by multiplying the trade deficit by 1.6 because, following Bivens (2014), $1 billion in gained/lost GDP will result in $1.6 billion of economic activity.
Source: Authors’ analysis of Bivens (2014), U.S. Census Bureau (2013), U.S. International Trade Commission (USITC 2016), Bureau of Labor Statistics (BLS 2016a and 2016b), and BLS Employment Projections program (BLS-EP 2014a, 2014b, and 2015). For a more detailed explanation of data sources and computations, see the appendix.