We discussed the relationship between U.S. manufacturing and the trade deficit in a post last week. I decided to pull up 2011 year to date statistics and look for any changes or trends. Mostly the same story other than small shifts between the country's main trading partners. Oil accounted for 48% of the trade deficit and China the next 39%. One country and one commodity account for 87% of the U.S trade deficit. The next largest deficit is with Japan at 7%, which is an economy the same size as China.
The data comes from the International Trade Administration.