Trade Gap Widens, White House Blames Oil
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The U.S. trade gap widened nearly 9  percent in October to a record $55.5 billion as sky-high oil  prices helped propel imports into new territory, while  industrial output rose as expected in November.
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The trade deficit increased to the second-highest level in history as surging demand for foreign oil swamped a small gain in US exports, the government reported yesterday.
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The US trade gap widened nearly 9 percent in October to a record $55.5 billion as sky-high oil prices helped propel imports into new territory, while industrial output rose as expected in November.
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The trade deficit widened as  expected in May, as higher oil prices helped lift imports to an  all-time high, swamping a boost to exports from stronger  overseas growth and a weaker dollar, a government report showed  on Thursday.
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WASHINGTON -- America's trade deficit increased in the spring to the second-highest level in history, reflecting a big jump in payments for foreign oil and a deterioration in the country's investment position.
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WASHINGTON -- Soaring global oil prices sent the US trade deficit to a record high, and Democrats hoping to take control of Congress said the figures showed Republican policies have failed.
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The U.S. trade gap widened less than  expected in May, but the monthly petroleum bill hit a record  high as the imported oil price posted the biggest gain in  nearly 16 years, government data showed on Wednesday.
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The US current account deficit widens, showing the world's largest economy is still having to foot a huge energy import bill.
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Pushed up by soaring oil prices, America's trade deficit surged to a record high in the summer, but analysts predicted a slowly improving imbalance in the months ahead.
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Skyrocketing oil prices likely pushed the U.S. trade deficit in November to its widest since July, economists polled by Reuters said.
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The US trade deficit rises to $60bn in May, fuelled by increased demand for foreign oil and cheap Chinese goods.
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The gap between US exports and imports hits an all-time high of $671.7bn (Â£484bn) last year, official figures show.
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The U.S. trade deficit widened  unexpectedly in November to a record $60.3 billion, propelled  by the highest-ever oil import bill and a drop in exports, a  government report showed on Wednesday.
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The politically sensitive U.S. trade  deficit widened more than expected in August to its  second-highest level on record, fueled by the highest oil  import prices in 23 years and record imports from China, the  U.S. government said on Thursday.
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The US trade deficit widened in the first three months of 2007, official data shows, following higher oil prices.
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The nationâs trade deficit widened to $60 billion as oil prices jumped and the volume of foreign oil coming into the United States rose.
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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.