Trade In Italy Research Articles

An Analysis of the 1977 U.S. Trade Deficit

IN 1977, the merchandise trade accounts of the United States recorded the largest deficit to date-$31.4 billion. Viewed in historical perspective, any U.S. trade deficit is an unusual occurrence: until 1971, the U.S. trade balance had been in surplus throughout the twentieth century. In 1977, the United States had a deficit of 1.7 percent of the gross national product, or 11.5 percent of the combined value of merchandise exports plus imports. (By comparison, Italy's trade deficit in 1974 was 10.3 percent of trade value; the deficit of the United Kingdom was 4.7 percent in 1967 and 12.1 percent in 1974.) The U.S. invisibles account showed a substantial surplus, however, so that the estimated current-account deficit in 1977 of $19.3 billion was 7.1 percent of the value of merchandise trade. The present U.S. trade deficit is particularly conspicuous because the balance has declined precipitously since late 1975. In 1975:4, the trade balance (seasonally adjusted annual rate) was an $8.9 billion surplus; one year later it had become a deficit of $14.4 billion, and by 1977:4, the deficit had grown to $35.5 billion. This change in the trade balance resulted from a slow growth in the value of U.S. exports (an increase of 7.1

The 1951 census of industry and trade in Italy: some preliminary results

The article examines certain aspects of the structure of the Italian economy as revealed by the new Census of Industry and Trade which differs in a number of respects from the earlier censuses. It is in fact the first to give a systematic, uniform and simultaneous survey of the number and characteristics of the enterprises on the one hand, and the number and characteristics of the “local units” in which the “economic units” conduct their business, on the other. The general analytical survey which the author gives of the various economic sectors provides the starting point for many observations. One theme, however, receives particular emphasis: the role of small units, of artisan and similar type, which play a dominant part, especially in industry and trade, and more particularly in the South than in the North. The author observes that “while it is undeniable that business enterprises of the artisan-type sometimes perform an essential function, it is also true that they rarely have the organisation, technique or business know-how which progress and the needs of society have made indispensable.

The Outlook for Extending American Lumber Trade in Italy

The Outlook for Extending American Lumber Trade in Italy