Multinational Companies in United States International Trade: A Statistical and Analytical Sourcebook

By F. Steb Hipple | Go to book overview

CHAPTER 9
TRADE WITH EUROPE

Trade with Europe includes one-fourth of total merchandise trade. Multinational companies are important in U.S.-European trade. MNC affiliate trade accounts for a 56% share of total trade and MNC intrafirm trade has a 41% share. The equivalent figures for Total Geographic trade are 54% and 39%. Wholesale affiliates are the dominant industry group, followed by manufacturing affiliates.


DEFINITION OF TRADE WITH EUROPE

Trade with Europe consists of movements of merchandise between the United States and Europe. The two areas are separated by the Atlantic Ocean. Subsequently, most trade with Europe is waterborne trade.

Europe, as defined by the Bureau of Economic Analysis, consists of the market economies of Western Europe. The major nations are France, Germany, Italy, and the United Kingdom. Europe is dominated by the European Union, formerly the European Economic Community.


TRENDS IN TRADE WITH EUROPE

In 1975, total trade with Europe was $54,193 million. Exports were $32,727 million and imports were $21,466 million, yielding a surplus of $11,261 million. In 1982, total trade reached a level of $117,077 million, an increase of 116% or $62,884 million. Both exports and imports enjoyed strong growth over the period, but with imports growing over 50% faster. As a result, the trade balance declined by $1,010 million, falling to a surplus of $10,251 by 1982.

Between 1982 and 1989, the growth in trade with Europe slowed. Total

-89-

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