THE TRADE VOLUME OF THE UNITED STATES DECREASED BY NEARLY 30% IN MAY, AND THE TOP 14 TRADING PARTNERS ALL EXPERIENCED A DECLINE OF OVER 40%
ACCORDING TO FOREIGN MEDIA REPORTS ON JULY 6TH, DATA SHOWS THAT 14 OUT OF THE 50 TRADING PARTNERS OF THE UNITED STATES HAVE EXPERIENCED A TRADE VOLUME DECLINE OF OVER 40% WITH THE UNITED STATES.ACCORDING TO THE REPORT ON JULY 3 ON THE WEBSITE OF FORBES BIWEEKLY, ACCORDING TO THE DATA RELEASED BY THE US CENSUS BUREAU ON THE 2ND LOCAL TIME, IN MAY, AMONG THE 50 ************* TRADING PARTNERS OF THE UNITED STATES, THE TRADE VOLUME WITH THE UNITED STATES DROPPED BY MORE THAN 40% TO AN ASTONISHING 14. SEVEN TRADE VOLUMES HAVE DECREASED BY MORE THAN 50%, WITH ONE OF THEM EXPERIENCING A DECLINE OF OVER 60%. AT PRESENT, THE IMPACT OF THE COVID-19 EPIDEMIC ON THE GLOBAL ECONOMY IS BECOMING MORE AND MORE SERIOUS.THE REPORT STATES THAT THESE TRADING PARTNERS ARE WIDELY DISTRIBUTED, INCLUDING COUNTRIES AND REGIONS FROM NORTH AMERICA, SOUTH AMERICA, EUROPE, THE MIDDLE EAST, AND ASIA. THE TRADE BETWEEN THE UNITED STATES AND THEM HAS BEEN DESTROYED BY EITHER THE COVID-19 PANDEMIC OR THE RESULTING SHARP DROP IN OIL PRICES.THE TOTAL TRADE VOLUME OF THE UNITED STATES IN MAY DECREASED BY 29.83% YEAR-ON-YEAR.ACCORDING TO THE REPORT, THE DECLINE HAS SIGNIFICANTLY INCREASED COMPARED TO A MONTH AGO, WITH A 20.91% DECREASE IN TRADE VOLUME IN APRIL; COMPARED TO THE DECLINE IN MARCH, THE TRADE VOLUME IN MARCH ONLY DECREASED BY 7.65%, ALMOST DOUBLING.ACCORDING TO REPORTS, THE TRADE VOLUME BETWEEN SWITZERLAND AND THE UNITED STATES HAS MORE THAN DOUBLED, WITH A GROWTH RATE OF 120.81%, MAKING SWITZERLAND THE FOURTH LARGEST TRADING PARTNER OF THE UNITED STATES AFTER CHINA, CANADA, AND MEXICO. THE INCREASE IN TRADE VOLUME IS DUE TO A GROWTH OF OVER 1700% IN US GOLD IMPORTS, INDICATING THAT INVESTORS ARE SEEKING A SAFE HAVEN. HOWEVER, THERE IS A LONG LIST OF COUNTRIES WHOSE TRADE VOLUME WITH THE UNITED STATES HAS SIGNIFICANTLY DECREASED, INCLUDING: CANADA, THE SECOND LARGEST TRADING PARTNER OF THE UNITED STATES, WHICH HAS DECREASED BY 44.56%; MEXICO, THE THIRD LARGEST TRADING PARTNER, DECREASED BY 53.58%; ITALY, THE 14TH LARGEST TRADING PARTNER, DECREASED BY 43.02%; FRANCE, THE 16TH LARGEST TRADING PARTNER, DECREASED BY 51.73%; INDIA, THE 21ST LARGEST TRADING PARTNER (WHICH WAS THE 8TH LARGEST TRADING PARTNER OF THE UNITED STATES A YEAR AGO), DECREASED BY 61.16%IN MAY, THE TRADE VOLUME OF THE TOP 50 TRADING PARTNERS ACCOUNTED FOR OVER 96% OF THE TOTAL TRADE VOLUME OF THE UNITED STATES.