Explain the volume and pattern of U.S. and World Trade

Question

Explain the volume and pattern of U.S. and World Trade?

Answer 1

An index of the importance of world trade to several countries is to reveals the growth in U.S. imports and exports over past decades.  Currently, exports and imports are 12 percent and 17 percent of GDP, which is more than double their importance of twenty-five years ago. The U.S. is world’s leading trading nation, although its share has diminished from post- World War II level of one-third of total trade to one-eighth today.