2000: furniture trade deficit on $8 billion pace.The first quarter world trade statistics are in. Read 'em and weep weep (wep) 1. to shed tears. 2. to ooze serum. . The United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. imported a record $2.3 billion worth of wood furniture and parts between January January: see month. and March of this year. That's nearly 30% more than was recorded in the first quarter of 1999, a year in which a record $8.6 billion worth of furniture and furniture parts entered the United States. On the plus side, U.S. furniture exports reached $320 million, putting them 15% ahead of last year's first quarter. Yet, the trade deficit, weighing in at nearly $2 billion for the first quarter of 2000, puts the U.S. furniture industry on a pace to not only eclipse last year's record deficit of $7.4 billion, but catapult catapult (kăt`əpŭlt'), mechanism used to throw missiles in ancient and medieval warfare. At first, catapults were specifically designed to shoot spears or other missiles at a low trajectory (see bow and arrow). the trade gap to $8 billion in the process. Fast Forward: The U.S. furniture trade gap reached $14.5 billion in 2004 as imports reached nearly $16 billion. |
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