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Federal Reserve Bank of San Francisco
FRBSF Economic Letter
How Much Do We Spend on Imports?
Galina Hale
Bart Hobijn
Fernanda Nechio
Doris Wilson
Abstract

When U.S. shoppers buy something imported, are they also paying for local inputs? How much of what is “Made in the U.S.A.” actually is? These questions require accounting for both the U.S. components in the price of imported goods and the use of imported inputs in U.S. production. Estimates show that nearly half of spending on imports stays in the United States, paying for the local components of these goods. Over 10 cents of every dollar U.S. consumers spend reflects the cost of imports at various stages of production.


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Galina Hale & Bart Hobijn & Fernanda Nechio & Doris Wilson, "How Much Do We Spend on Imports?" , Federal Reserve Bank of San Francisco, FRBSF Economic Letter, number 01, 2019.
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Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

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