Read Chapter 2 of your textbook. The Volume of International Trade. As evidenced by the chapter, the volume of trade between nations is great, and it continues to grow year by year. The global value of imports and exports in both goods and services is at an all-time high, and that pattern is likely to only increase in the future. As seen in Table 2.2, Page 48 of the text, the US continues to export more goods and services than any other country.
Japan is the second largest economy in the world at present.
The United States is the largest economy in the world. The Direction of Trade . The direction of trade continues to evolve. The US shares a border with Canada, simplifying the transportation of goods. The US-European trade history started in the 1800s with trade activity currently stabilizing.