Reader JohnH asserts:
LNG is the US 3rd biggest export and fastest growing.
But I believe he/she misread the table in the article (see table at end of this post), and its gas and LNG combined that is the 3rd top export classification. If I go to BEA– United States Trade in Goods (IDS-0008), and (meticulously) download information for “gas liquids and mfd gases”, and divide by total products exports (balance of payments basis, seasonally changed), I acquire this picture:
Figure 2: Quarter-on-quarter modification in non-LNG exports (tan bar), and change in LNG exports (blue bar), both in millions $, quarterly rate, seasonally changed. NBER specified peak-to-trough economic downturn dates shaded gray. Source: BEA, NBER, and authors calculations.
If LNG exports (not natural gas and LNG) were a big factor to United States items exports, I will let readers choose.
Bottom Line: Read your article (and table) carefully.
Note: JohnH is the same individual who asserted that the US federal government did not report mean earnings and/or earnings, changed for inflation. See [1], [2], [3]
The leading 10 exports represented a 3rd of all U.S. exports through the first four months of the … [+] USTRADENUMBERS.COM
Source: Roberts, Forbes (June 28, 2022).
Figure 1: Non-LNG exports (tan bar), and LNG exports (blue bar), both in millions $, quarterly rate, seasonally changed. NBER specified peak-to-trough recession dates shaded gray. Source: BEA, NBER, and authors computations.
Figure 2: Quarter-on-quarter modification in non-LNG exports (tan bar), and change in LNG exports (blue bar), both in millions $, quarterly rate, seasonally adjusted.
Figure 1: Non-LNG exports (tan bar), and LNG exports (blue bar), both in millions $, quarterly rate, seasonally adjusted. NBER defined peak-to-trough recession dates shaded gray. Source: BEA, NBER, and authors estimations.
As for adding to products exports, heres the relevant image.
