According to your wacko theory that wealth is only created by goods production, if we exported far more services than the value of goods that we imported, but we were still running merchandise trade deficits, than we would be exporting our wealth, even though net goods would be flowing into the country and we wouldn't have any trade deficit whatsoever.
No, then our wealth would be increasing.
Only it would be increasing through the mechanism of wealth transference, not wealth creation.
But that's not what's currently happening is it?
Wealth is being created offshore, and our wealth is diminishing as we accrue debt to import goods.