Oil import prices fuel 7% jump in US trade deficit
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THE US trade deficit widened in August to its second-highest level on record, fuelled by the highest oil import prices in 23 years and record imports from China.
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The US trade deficit, propelled by a record foreign oil bill, surged to $54 billion (R355 billion) in August, the second-highest level in history.
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America&#39;s trade deficit swelled to an all-time high of $55.5 billion in October as imports -- including those from China -- surged to the loftiest levels on record.
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WASHINGTON - The US trade deficit, propelled by a record foreign oil bill, surged to $54 billion in August, second highest level in history.
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The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record imports of foreign oil. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
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The US trade deficit widened nearly 9 percent in October to a record $55.5 billion as sky-high oil prices helped propel imports into uncharted territory, the government said on Tuesday.
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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 rises to $60bn in May, fuelled by increased demand for foreign oil and cheap Chinese goods.
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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 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 United States trade deficit widened slightly in October as a record price for imported oil outweighed the export-spurring benefits of a weaker dollar.
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WASHINGTON - The US trade deficit continues to swell to new records, hitting $55.5 billion US in October. The US Commerce Department said Tuesday that the trade deficit grew by 8.9 per cent from September, even
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The 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 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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The trade deficit jumped in November to its highest level in 14 months as surging oil prices overpowered a ninth consecutive month of record exports, the Commerce Department said on Friday.
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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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Rising oil prices increased the U.S. trade gap in July to a record high, the government reported Tuesday, as the deficit between imports and exports soared above forecasts.