US trade deficit woes
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THE Commerce Department reported today that the United States recorded a $US54 billion ($74.55 billion) trade deficit in August, the second highest level on record.
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The U S technology industry imported more computers, high-tech components, and consumer electronics in 2006 than it exported, resulting in a record $102 billion trade deficit in the sector, according to a new report due out today.
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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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The US trade deficit unexpectedly fell in April, helped by the weak dollar, official figures show.
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The US trade deficit jumped to the second-highest level in history as surging demand for foreign oil swamped a small gain in US exports, the government reported.
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The annual US trade deficit rises to a new record of $763.6bn, hit by higher oil prices and surging Chinese imports.
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WASHINGTON -- The trade deficit dropped sharply in April even though the politically sensitive imbalance with China increased to the highest level in three months. Strong overseas demand pushed American exports to an all-time high.
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WASHINGTON -- The US trade deficit shrank to $51.6 billion in September, an improvement brought about as exports posted their best month on record.
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The US trade deficit narrowed in July from the prior month&#39;s record as exports rose and a decline in oil shipments contributed to the first drop in imports in 11 months, the Commerce Department said in Washington.
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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 monthly U.S. trade deficit soared to an all-time high of $60.3 billion in November, sending the dollar tumbling and raising new worries about whether the U.S. economy has become too dependent on borrowing from foreigners.
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The grim plight of the US dollar has been highlighted by news that the US economy notched up another record trade deficit in October.
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The US current account deficit falls in the third quarter to the lowest level in two years as US exports surge.
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The nation's trade deficit narrowed in July as exports rebounded from an unusually weak June and the price of oil imports slipped, adding to evidence that the US economy is moving out of its recent soft patch.
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Record imports and surging oil prices helped widen the U.S. trade deficit much more than expected in November to $63.1 billion, despite a ninth consecutive month of record exports, a U.S. Commerce Department report on Friday showed.
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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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The United States trade deficit shrank to $51.6 billion in September, as exports posted their best month on record. In another report, new claims for jobless