Saturday, July 21, 2018

China trade

In 2017 China's annual budget showed revenues (income) of $2.6 trillion and expenditures of $3.1 trillion for a deficit of $500 billion. That same year China had a trade surplus of $400 billion. Had it not been for the trade surplus their deficit would have been $900 billion. In 2017 the United States annual budget deficit was $700 billion with income of $3.5 trillion and expenditures of $4.2 trillion. In 2017 the US imported $2.4 trillion and exported $1.6 trillion for a $800 billion trade deficit. China with a much smaller economy has a $400 billion trade surplus and the US has a $800 deficit. If it had not been for the trade surplus China's budget deficit would have been higher than the US.

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