reader John H assertion:
LNG is the third largest U.S. export and the fastest growing.
But I believe he/she misread article (see table at the end of this article), it is natural gas and LNG is the third largest export category.if I go Bank of East Asia – US Trade in Goods (IDS-0008), and (painfully) downloading the data for “Natural Gas Liquids and mfd Gases” and dividing by total merchandise exports (balance of payments basis, seasonally adjusted), I get this picture:
figure 1: Non-LNG exports (tan bars) and LNG exports (blue bars), both in millions of dollars, on a quarterly basis, seasonally adjusted. The NBER uses shades of grey to define the peak and trough dates of the recession. Source: BEA, NBER, and author’s calculations.
As for the contribution to merchandise exports, here is the relevant picture.
figure 2: Quarter-over-quarter change in non-LNG exports (tan bars) and LNG exports (blue bars), both in million dollars, quarter-on-quarter, seasonally adjusted. The NBER uses shades of grey to define the peak and trough dates of the recession. Source: BEA, NBER, and author’s calculations.
I’ll let the reader decide whether to export LNG (no natural gas and LNG) are significant contributors to U.S. merchandise exports.
Bottom line: read your articles (and tables) carefully.
Note: JohnH is the same person who claims that the U.S. government does not report inflation-adjusted median wages and/or income.Look [1], [2], [3].
Top 10 exports account for one-third of total U.S. exports in the first 4 months … [+]
USTRADENUMBERS.COM
resource: Forbes Roberts (June 28, 2022).
