Trade Deficit Falls After 5 Record Years
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WASHINGTON -- Despite a soaring foreign oil bill and another record deficit with China, the overall U.S. trade deficit declined in 2007 after setting records for five consecutive years.
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The U.S. trade deficit narrowed  sharply in September, aided by a slide in the value of the  dollar, which helped push exports to record levels, a  government report showed on Wednesday.
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WASHINGTON -- The U.S. trade deficit declined during the third quarter to the lowest level in two years, raising hopes that the country's trade troubles could be easing.
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The U.S. trade deficit narrowed more than expected in September as a rise in exports to unprecedented levels offset the impact of record-high prices for imported oil, a government report showed on Wednesday.
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US exports fall despite the slide in the dollar, pushing the trade gap to an all-time record of more than $60bn in November.
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The U.S. current account deficit  shrank in the fourth quarter of 2006 to its smallest in more  than a year as lower oil prices took a bite out of imports and  U.S. exports continued to rise, a Commerce Department report  showed on Wednesday.
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The deficit jumped by 9.3 percent, to $63.1 billion,  the government said, reflecting record oil imports. The deficit with China declined while the weak dollar lifted exports to a record high.
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Trade through the Port of New York, which was shrinking or flat a decade ago, has grown faster in the last five years than at any point since just after World War II.
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America's trade deficit swelled to an all-time high of &#36;55.5 billion in October as imports &#151; including those from China &#151; surged to the loftiest levels on record. Skyrocketing crude-oil prices also contributed to the yawning trade gap.
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America's trade deficit posted a dramatic decline in October, falling to the lowest level in 14 months as the price of crude oil plunged by a record amount.
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The United States trade deficit shrank by the most in almost five years in October as the price of imported oil fell and faster growth abroad propelled exports to a record, the Commerce Department said yesterday.
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NEW YORK, October 15  - The US trade deficit increased to the second-highest record level of $54 billion in August this year, primarily driven by the elevated oil import prices and record imports of Chinese goods.
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The U.S. current account deficit  shrank more than expected in the fourth quarter of 2006 to  $195.8 billion, as lower oil prices took a bite out of imports  and U.S. exports continued to rise, a Commerce Department  report showed on Wednesday.
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The US trade deficit narrowed in 2007, figures show, after rising exports offset the rapid growth in oil imports.
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America&#39;s trade deficit grew to an all-time high of $55.5 billion in October as imports - including those from China - increased to the loftiest levels on record.
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The US trade deficit narrowed by nearly 9 percent in July, the Commerce Department reported yesterday -- but at $50.1 billion, the gap was still the second-largest on record.
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The UK trade gap with the rest of the world shrank to Â£3.5bn in May, the Office for National Statistics says.