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Essay / Research Paper Abstract
This 11 page paper looks at the chemical industry in the US there are the resources to manufacture or process more chemicals, and the country exports may of the same goods that it imports. The paper uses the concept of international trade theory to explain how and why, looking at the concept of comparative advantage as well as the Heckscher-Ohlin model. The bibliography cites 9 sources.
Page Count:
11 pages (~225 words per page)
File: TS14_TEchemcomp.rtf
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Unformatted sample text from the term paper:
This may be seen as an interesting phenomenon as not only does the US import chemical goods, they also export them, in many instances there are goods within the same
category. There is also little doubt that for many of the chemicals that are imported there is a capability for the chemicals to be manufacturers, source or otherwise processed within
the US. It may appear relativity obtuse for a country to be importing many of the same, or similar goods to those
they are exporting and choose to import rather the manufacture goods that they have both the resources and the capability to produce. However, when looking at this from the perspective
of international trade theory it is possible to consider how and why this occurs. The are a number of different classifications of chemical under the SITC categories. When looking at
these there are both imports exports of the same categories. Looking at the levels of imports that have taken place in 2009, in the nine months up to and
including September 2009 the levels can be seen an indicate the areas where most chemicals are imported, these are shown in figures 1 using the SITC categories. All figures given
are in $ millions unless otherwise stated. Figure 1 Imports and Exports of chemical Jan - Sept 2009 (US Census Bureau, 2009) Exports Imports Chemicals - medicinal 31,361
42,082 Chemicals - organic 19,974 32,508 Chemical - plastics 23,879 10,050 Chemicals - inorganic 7,510 7,892 Chemicals - n.e.s. 14,878 6,973 Chemicals - cosmetics 8,095 6,160 Chemicals- fertilizers 2,734 2,994
Chemicals - dying 3,963 1,748 The largest group of imports are medicinal, followed by organic chemicals and then plastics. In each of
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