Chart of the day is...

...the evolution of the trade balance between The USA and Peru, 2002 to 2011, annual numbers:

A negative number means that Peru exports more to the USA in dollar terms than its imports. Therefore a positive number (as in the recent years) means that The USA exports more to Peru than it imports. Hey, I bet you remember how Peru sold the Free Trade Agreement (FTA) to its people by telling them they've benefit massively from the brand new market opening up, don't you? You don't? Oh never mind...

So if you don't understand yet just why The USA is so darned keen on promoting FTAs with the rest of the world (the previously pacted on with Colombia kicks into operation any day now), that chart gives you plenty of clues.

Post inspired by this marvellous article over at Gregorio Samsa by main man Jurgen Schuldt, which has details and commentary from a real economist, i.e. him.