QUESTION: Finally, how would you compute the overall U.S. trade balance with Japan, which includes both goods and services? Is this overall trade balance a surplus or a deficit?

The United States imports many goods from Japan, including automobiles, electronics, and medical instruments. But we also export many services to Japan, such as financial and travel services. The table below reflects trade between the United States and Japan in 2014. (All figures are in billions of U.S. dollars.)

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Exports to Japan Imports from Japan Goods Services $20 $103 47 31