Final answer:
Canada is the largest US trading partner. The share of US exports in the country's GDP has been increasing, but is below the global average. US trade primarily involves the exchange of goods and services.
Step-by-step explanation:
To complete the statements about how trade affects US economic data:
The largest US trading partner is Canada. Canada and Mexico account for a significant percentage of total US exports. Generally, the share of US exports in the country's GDP has been increasing, although it remains well below the global average. The majority of US trade activities involve the export and import of goods and services.
In recent decades, the export/GDP ratio has generally risen, both worldwide and for the US economy. However, the share of US exports as a percentage of GDP is lower compared to many other countries, partly because the large US economy can contain more of the division of labor within its borders. Small economies like Belgium, Korea, and Canada must trade across their borders to fully benefit from division of labor, specialization, and economies of scale.