World in Boom

The economic boom in the free world has spurred both U.S. exports and imports. Last week the Department of Commerce reported that during IQSS'S first four months U.S. exports were 13% larger than they had been in the same period a year ago.

Sales to Western Europe showed the largest gain, exports of $1,068,549,000 in the first quarter v. $687,818,000 last year. Latin American nations came next, buying $749,775,000, a gain of close to $40 million, and Canada, the biggest single U.S. customer, bought $692,685,000, a boost of more than $40 million. Sales to Asia, Australia and New Zealand reached $614,195,000, up almost $70 million, and African purchases increased about $41 million, to $146,162,000.

During the first four months U.S. imports were 4.3% heavier than they were last year. Again, Europe showed the biggest gain, selling $568,568,000 in the U.S., a gain of better than $100 million over year-ago volume. Imports from Canada went up $43 million, to $579,853,000, while Asia, Australia and New Zealand sold $480,510,000 worth of products here, v. $463,968,000 a year ago. The only drop was in imports from Latin America (most of the decline was caused by lower coffee prices) and Africa.

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