As you probably know, the United States runs a rather significant trade deficit meaning that we import a lot more than we export. With that in mind, where would you say the U.S. ranks in terms of total exports worldwide? Do you think we beat South Korea? How about China? Japan?
Well, believe it or not, the United States is the number three exporter on the planet. While our appetite for imports remains nearly insatiable, we do a pretty sizable business in exports at over $1 trillion annually. In fact, according to the World Trade Organization (WTO), as reported in The Economist, the U.S. owns 8.5% of the world's export business.