- Go to the United States Census Data website
- Choose a country (not a continent or grouping) that has complete data from 2000-2020.
- Download the monthly Export and Import data for 2000-2020. Note: this data is in millions of U.S. dollars and is not seasonally adjusted. You don’t need to change this; it is just important to be aware of these details when performing your analysis.
- Go to the World Bank Data website
- Download the nominal GDP data for your country over the years 2000-2020. Note: the GDP data may not be available for the entire time period for your country. Download as much as is possible.
- Calculate your country’s Trade Openness; the year t formula is the following:
Importst + Exportst
- Create a line graph with the trade measured in millions of U.S. dollars on the y-axis and year-month dates on the x-axis. The graph should contain two data series lines: one for Imports and one for Exports. Add a linear trend line to both data series.
- Create a separate line graph with Trade Openness measured on the y-axis and years on the x-axis.
1. Analyze your graphs. What are some noticeable characteristics? Are there any patterns? When do the highest and lowest points for Imports, Exports, and Trade Openness occur?
2. Why do you think trade with your country has the features listed in the previous question? Find at least two reputable sources of information on the trade relationship between your country and the U.S. over the 2000-2020 time period. Do these sources validate or invalidate your initial guesses about the trade dynamic? Be sure to cite these sources in your write-up.
3. Look at your country’s trade relationship with other nations as well as with specific products here. What do you think will happen in the future with regards to your country and trade? Will its trade with the U.S. increase or decrease? What about with other countries? Will the products it imports or exports change? (Feel free to find additional sources to inform your predictions!)
Your submission must have two parts: a PDF document and an Excel workbook. No late submissions will be accepted. The Excel workbook should contain all of the data used, calculations performed, and graphs created. The PDF should contain your typed analysis (the answers to the questions under “Response”) as well as the graphs made in Excel
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