Comparative Advantage.

[6 MARKS] The table below shows the value of the major goods exported and imported by the United States in 2011. You are required to simply critique the table and reflect on what you see the US' major imports and exports are. What comparative advantage or disadvantage exists? Exports Value Imports Value Automobiles $133.1 Petroleum $462.3 Petroleum products 131.4 Automobiles 255.2 Chemicals 123.1 Household appliances 136.4 Agricultural food products 117.4 Apparel and household goods 125.7 Computers 48.4 Computers 119.7 Electrical generating machinery 48.3 Medical products 91.8 Semiconductors 45.0 Agricultural food products 84.6 Medical products 44.9 Chemicals 75.4 Scientific equipment 42.7 Electrical generating machinery 59.5 Telecommunications 35.9 Telecommunications 48.5 Household appliances 34.0 Semiconductors 40.4 Civilian aircraft 33.4 Scientific equipment 35.9 Oil drilling and construction equipment 32.9 Civilian aircraft 35.5