The above charts shows that in 1952 neet exports were a drag on overall growth. We see one quarter -- the first -- where overall exports increased and added to GDP. But in that quarter we all see a large contraction in imports, meaning overall net exports subtracted from growth. The second and third quarter show marked contractions as well. The fourth quarter we see a positive contribution from overall exports, but, again, imports sharply contracted, leading to an overall contraction for the quarter and a terrible year for exports.
The information below is from the 1953 Economic Report to the President and is part of the Bonddad Economic History Project
