Applying the appropriate data in the document, and if the U.S. GDP was $2,550 billion in 2022, compute the U.S. Export Intensity Index (EII) for the year 2022. (Must show all work).

FOR RELEASE AT 8:30 AM EST, TUESDAY, FEBRUARY 7, 2023 U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES, DECEMBER AND ANNUAL 2022 Release Number: CB 23-17, BEA 23-05 FEBRUARY 7, 2023 - The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $67.4 billion in December, up $6.4 billion from $61.0 billion in November, revised. U.S. INTERNATIONAL TRADE IN Goods and Services Trade Deficit Billion $ 115 Seasonally adjusted GOODS AND SERVICES DEFICIT Monthly deficit 105 +10.5% 95 Deficit: $67.4 Billion 85 Exports: $250.2 Billion 0.9% 75 Imports: $317.6 Billion +1.3% moving average Next release: Wednesday, March 8, 2023 55 (") Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes December 2020 December 2021 December 2022 Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. U.S. Bureau of Economic Analysis U.S. International Trade in Goods and Services International Trade in Goods and Services, February 7, 2023. U.S. Census Bureau February 7, 2023 Exports, Imports, and Balance (Exhibit 1) December exports were $250.2 billion, $2.2 billion less than November exports. December imports were $317.6 billion, $4.2 billion more than November imports. The December increase in the goods and services deficit reflected an increase in the goods deficit of $7.4 billion to $90.6 billion and an increase in the services surplus of $1.0 billion to $23.2 billion. For 2022, the goods and services deficit increased $103.0 billion, or 12.2 percent, from 2021. Exports increased $453.1 billion or 17.7 percent. Imports increased $556.1 billion or 16.3 percent. Three-Month Moving Averages (Exhibit 2) The average goods and services deficit decreased $2.1 billion to $68.6 billion for the three months ending in December. Average exports decreased $2.6 billion to $253.0 billion in December. . Average imports decreased $4.7 billion to $321.6 billion in December. Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries U.S. Census Bureau J.S. Census Bureau U.S. Bureau of Economic Analysis Economic Indicators Division, International Trade Public Information Office Balance of Payments Division 301-763-2311 301-763-3030 Data: 301-278-9559 eid.international.trade.data@census.gov pio@ census.gov Media: 301-278-900 InternationalAccounts@bea.gov United States Census U.S. Department of Commerce U.S. CENSUS BUREAU Bureau census.gov bea Bureau of Economic Analysis U.S. DEPARTMENT OF COMMERCEYear~overvear, the average goods and services deficit decreased $6.4 billion from the three months ending in December 2021. 0 Average exports increased $24.2 billion from December 2021. 0 Average imports increased $17.8 billion from December 2021. Exports [Exhibits 3, 6, and 7} Exports of goods decreased $2.9 billion to $168.1 billion in December. Exports of goods on a Census basis decreased $2.8 billion. 0 Industrial supplies and materials decreased 53.1 billion. 0 Nonmonetarv gold decreased 51.5 billion. 0 Crude oil decreased $0.8 billion. 0 Other petroleum products decreased $0.5 billion. 0 Consumer goods decreased 51.0 billion. 0 Jewelry decreased $0.4 billion. 0 Pharmaceutical preparations decreased $0.2 billion. a Foods, feeds, and beverages increased $0.7 billion. Net balance of payments adjustments decreased $0.1 billion. Exports of services increased $0.7 billion to $82.0 billion in December. a Travel increased $0.4 billion. 0 Transport increased $0.1 billion. 0 Other business services increased $0.1 biliion. Imports (Exhibits 4, 6, and 8} Imports of goods increased $4.5 billion to $258.8 billion in December. Imports of goods on a Census basis increased $4.8 billion. 0 Consumer goods increased $4.1 billion. 0 Cell phones and other household goods increased $3.5 billion. 0 Automotive vehicles, parts, and engines increased $2.9 billion. 0 Passenger cars increased $1.6 billion. 0 Other automotive parts and accessories increased 50.7 billion. Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries US. Census Bureau U.S. Census Bureau US. Bureau of Economic Analysis Economic Indicators Division, International Trade Public Information Office Balance of Payments Division 3012632311 301-263-3030 Data: 301-228-9559 eid.international.tracle.data@census.gov pio@census_gov Media: 3012289003 |nternatlonalAccounts@bea .gov Cunited States I US. Department of Commerce e n S u s 0.5. census aunnu msmv _Buleau . bea Bureau of Economic Analysis Industrial supplies and materials decreased $2.7 billion. o Fuel oil decreased $0.8 billion. o Organic chemicals decreased $0.8 billion. Net balance of payments adjustments decreased $0.3 billion. Imports of services decreased $0.3 billion to $58.8 billion in December. . Travel decreased $0.5 billion. . Transport decreased $0.1 billion. Charges for the use of intellectual property increased $0.2 billion. Real Goods in 2012 Dollars - Census Basis (Exhibit 11) The real goods deficit increased $2.5 billion to $98.6 billion in December. Real exports of goods increased $2.4 billion, or 1.6 percent to $156.9 billion, compared to a 1.7 percent decrease in nominal exports. Real imports of goods increased $4.9 billion, or 2.0 percent to $255.5 billion, compared to a 1.9 percent increase in nominal imports. Revisions In addition to revisions to source data for the November statistics, the seasonally adjusted goods data were revised for January through November so that the totals of the seasonally adjusted months equal the annual totals. Revisions to November exports Exports of goods were revised up $0.3 billion. . Exports of services were revised up $0.2 billion. Revisions to November imports Imports of goods were revised down $0.6 billion. Imports of services were revised up $0.6 billion. Goods by Selected Countries and Areas: Monthly - Census Basis (Exhibit 19) The December figures show surpluses, in billions of dollars, with South and Central America ($5.1), Netherlands ($4.4), United Kingdom ($1.9), Australia ($1.5), Hong Kong ($1.3), Belgium ($1.1), Brazil ($0.9), and Singapore ($0.2). Deficits were recorded, in billions of dollars, with China ($22.8), European Union ($18.6), Mexico ($12.0), Vietnam ($8.1), Germany ($8.0), Japan ($7.2), Ireland ($5.8), Canada ($4.5), Italy Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries U.S. Census Bureau U.S. Census Bureau U.S. Bureau of Economic Analysis Economic Indicators Division, International Trade Public Information Office Balance of Payments Division 301-763-2311 301-763-3030 Data: 301-278-9559 eid.international.trade.data@census.gov pio@census.gov Media: 301-278-9003 InternationalAccounts@bea.gov United States U.S. Department of Commerce Census U.S. CENSUS BUREAU . Bureau census.gov beal Bureau of Economic Analysis U.S. DEPARTMENT OF COMMERCE($4.2), South Korea [$4.0], India ($3.3), Taiwan {$3.0}, Switzerland ($2.6), Malaysia ($2.5), France ($1.2), Israel ($0.7), and Saudi Arabia ($0.7). o The deficit with China increased $3.0 billion to $22.8 billion in December. Exports decreased $1.0 billion to $12.6 billion and imports increased $2.0 billion to $35.4 billion. 0 The deficit with Japan increased $1.6 billion to $7.2 billion in December. Exports decreased 50.3 billion to $6.2 billion and imports increased $1.3 billion to $13.3 billion. 0 The surplus with the Netherlands increased $2.0 billion to $4.4 billion in December. Exports increased $1.2 billion to $7.0 billion and imports decreased $0.9 billion to $2.6 billion. Annual Summary for 2022 Exports, Imports, and Balance (Exhibit 1) For 2022, the goods and services deficit was $948.1 billion, up $103.0 billion from $345.0 billion in 2021. Exports were $3,009.? billion, up $453.1 billion from 2021. Imports were $3,957.8 billion, up $556.1 billion from 2021. US. International Trade in Goods and Services The 2022 increase in the goods and services deficit reflected an increase in the goods deficit " of $101.5 billion, or 9.3 percent, to 51,1928 billion and a decrease in the services surplus of $1.6 billion, or 0.6 percent, to $243.7 billion. The goods and services deficit was 3.7 percent of current-dollar gross domestic product in 2022, up from 3.6 percent in 2021. :ii In ."ul Exports (Exhibits 3: 6; and 7' . l Exports l Imports Exports of goods increased $324.2 billion to "'" ' " 52,0856 billion in 2022. ' Exports of goods on a Census basis increased $310.5 billion. - Industrial supplies and materials increased $190.9 billion. 0 Crude oil increased $47.5 billion. Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries U.S. Census Bureau US. Census Bureau U.S. Bureau of Economic Analysis Economic Indicators Division, International Trade Public Information Office Balance of Pavments Division 301-?63-2311 301-263-3030 Data: 301-223-9559 eid.international.trade.data@census.gov pio@census.gov Media: 301-238-9003 Internationalnccountsibea.gOv United States Census BUIEIIJ U5. Department of Commerce us. census nunuu msm.wr ghee Bureau of Economic Analysis o Fuel oil increased $28.1 billion. o Other petroleum products increased $26.8 billion. o Natural gas increased $22.9 billion. Capital goods increased $51.0 billion. o Civilian aircraft engines increased $7.2 billion. o Electric apparatus increased $6.2 billion. 5 / 65 o Other industrial machinery increased $5.5 billion. o Civilian aircraft increased $4.7 billion. . Consumer goods increased $24.2 billion. o Pharmaceutical preparations increased $7.0 billion. o Gem diamonds increased $4.0 billion. Foods, feeds, and beverages increased $15.3 billion. o Soybeans increased $7.0 billion. Automotive vehicles, parts, and engines increased $14.3 billion. o Other automotive parts and accessories increased $7.0 billion. Net balance of payments adjustments increased $13.7 billion. Exports of services increased $128.9 billion to $924.2 billion in 2022. . Travel increased $63.8 billion. . Other business services increased $26.5 billion. Transport increased $24.3 billion. Imports (Exhibits 4, 6, and 8) Imports of goods increased $425.7 billion to $3,277.3 billion in 2022. Imports of goods on a Census basis increased $415.6 billion. . Industrial supplies and materials increased $160.9 billion. o Crude oil increased $65.1 billion. o Finished metal shapes increased $13.1 billion. o Other petroleum products increased $12.6 billion. . Capital goods increased $103.5 billion. Electric apparatus increased $19.7 billion. o Telecommunications equipment increased $12.6 billion. Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries U.S. Census Bureau U.S. Census Bureau U.S. Bureau of Economic Analysis Economic Indicators Division, International Trade Public Information Office Balance of Payments Division 301-763-2311 301-763-3030 Data: 301-278-9559 eid.international.trade.data@census.gov pio@census.gov Media: 301-278-9003 InternationalAccounts@bea.gov United States U.S. Department of Commerce Census U.S. CENSUS BUREAU Bureau census.gov ~beal Bureau of Economic Analysis U.S. DEPARTMENT OF COMMERCEo Other industrial machinery increased $10.7 billion. . Consumer goods increased $76.3 billion. o Pharmaceutical preparations increased $18.8 billion. o Cell phones and other household goods increased $11.0 billion. Automotive vehicles, parts, and engines increased $52.0 billion. o Passenger cars increased $19.0 billion. o Other automotive parts and accessories increased $18.3 billion. Foods, feeds, and beverages increased $26.1 billion. Net balance of payments adjustments increased $10.1 billion. Imports of services increased $130.5 billion to $680.5 billion in 2022. . Travel increased $56.5 billion. Transport increased $49.1 billion. Goods by Selected Countries and Areas - Census Basis (Exhibits 14 and 14a) The 2022 figures show surpluses, in billions of dollars, with South and Central America ($76.2), Netherlands ($38.3), Hong Kong ($21.1), Brazil ($14.6), Singapore ($14.5), Australia ($14.0), and United Kingdom ($13.3). Deficits were recorded, in billions of dollars, with China ($382.9), European Union ($203.9), Mexico ($130.6), Vietnam ($116.1), Canada ($81.6), Germany ($73.7), Japan ($68.0), Ireland ($66.1), Taiwan ($48.1), South Korea ($43.9), Thailand ($43.1), Italy ($41.7), India ($38.3), Malaysia ($36.6), Indonesia ($24.6), Switzerland ($22.6), Austria ($13.1), Russia ($12.7), Saudi Arabia ($11.9), and France ($11.5). The deficit with Canada increased $31.6 billion to $81.6 billion in 2022. Exports increased $48.4 billion to $356.1 billion and imports increased $79.9 billion to $437.7 billion. The deficit with China increased $29.4 billion to $382.9 billion in 2022. Exports increased $2.4 billion to $153.8 billion and imports increased $31.8 billion to $536.8 billion. The surplus with South and Central America increased $22.4 billion to $76.2 billion in 2022. Exports increased $50.8 billion to $225.7 billion and imports increased $28.4 billion to $149.5 billion. Goods Data Inquiries Goods Media Inquiries Services Data and Media Inquiries U.S. Census Bureau U.S. Census Bureau U.S. Bureau of Economic Analysis Economic Indicators Division, International Trade Public Information Office Balance of Payments Division 301-763-2311 301-763-3030 Data: 301-278-9559 eid.international.trade.data@census.gov pio@census.gov Media: 301-278-9003 InternationalAccounts@bea.gov United States U.S. Department of Commerce Census U.S. CENSUS BUREAU Bureau census.gov ~bea | Bureau of Economic Analysis U.S. DEPARTMENT OF COMMERCE