In 2002, U.S. imports from developing countries totaled a whopping $317 billion. (The United States is the largest market for developing country goods.) U.S. exports to these countries totaled $130 billion. Imports and exports are important, but look at the difference: the resulting trade deficit for the United States: $187 billion. This represents 44 percent of the total trade deficit the United States recorded last year with all nations. In other words, with developing countries, the United States buys far more than it sells. Let's take a few examples. Last year, the Philippines sold $11 billion worth of exports to the United States and purchased $7 billion worth of U.S. imports, for a deficit (with the United States) of $4 billion dollars. Malaysia's exports to the United States exceeded its American imports by $14 billion. For Korea, the surplus over the United States is $13 billion; for Brazil, 3 billion dollars. It may seem surprising, but high technology is now the main export sector of developing countries. Information and communications technologies accounted for $450 billion of developing country exports, compared with $235 billion for natural resource goods and $405 billion for low-technology goods. Not only does the United States purchase hundreds of billions of dollars worth of produced goods. by developing countries, it also invests massively in these countries. About three out of every eight dollars of foreign direct investment in Africa comes from the United States – more than from any other country (France comes second with 18 percent – ​​or less than half). Between 1996 and 2000 (latest figures), the United States invested $9.2 billion in Africa, compared to $4.4 billion invested by France and...... middle of paper ..... .www.house.gov/jec/imf /trade.pdfThe benefits of international trade and investment are more widely accepted around the world today than at any time in recent history. At the government level, confidence in these benefits has encouraged many countries to adopt international economic policies that promote increased trade and investment. A key element of these international economic policies is the commitment to reducing global barriers to trade and investment. For countries that have adopted international economic policies that favor increased trade and investment, such as joining the WTO or unilaterally reducing trade barriers, evidence suggests that this has generally boosted economic growth and income. For example, according to the Office of the U.S. Trade Representative, between 1994 and 2000, increased exports accounted for about one-fifth of U.S. economic growth..,