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Thursday, May 23, 2013

Generating the Wealth of Nations 19: US Exports and Imports During World War 1

One of the ways in which the US derived an economic benefit from World War 1 was from an export boom, which is clearly visible in the following chart.  This export boom was largely financed by US bank lending to importers, and the largest growth in US exports was to England (and, secondarily, to France).  While US imports held relatively steady as a  percent of GDP, the source of imports into the US shifted away from Europe and toward Latin America and Asia.

(Click to enlarge.)

Sources:  Export and import data from The Usitorical Statistics of the United State From Colonial Times to 1970.  GDP and price index data from


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