Oil Is Blamed for Widening Trade Deficit
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Record oil prices widened the United States trade deficit in November as the cost of imported petroleum outpaced a modest rise in exports.
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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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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.
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America's deficit in the broadest measure of trade shot up to an all-time high in the summer, reflecting the huge jump in the country's foreign oil bill.
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The deficit in the broadest measure of trade climbed to a record high of $164.7 billion in the third quarter of this year, reflecting Americans&#39; hardy demand for imported oil and foreign-made goods.
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WASHINGTON -- America's deficit in the broadest measure of trade shot up to an all-time high in the summer, reflecting the huge jump in the country's foreign oil bill.
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America's trade deficit rose to its second highest level of the year, reflecting higher prices for foreign oil and a continued appetite for Chinese goods despite this year's recalls of tainted products.
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The U.S. trade deficit grew in July to a record $68 billion, as oil import prices and demand for foreign goods and services rose to new highs.
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The huge U.S. current account deficit widened in the third quarter to a record $225.6 billion, as gushing oil prices and strong demand for Chinese and other foreign goods pushed imports higher, a U.S. Commerce Department report showed on Monday.
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Surging oil costs helped widen the   U.S. current account deficit more than expected in the second   quarter and capital flows into the United States in July ebbed,   two government reports showed on Monday.
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WASHINGTON -- The U.S. trade deficit in November surged to the highest level in 14 months, reflecting record foreign crude oil prices. The deficit with China declined slightly while the weak dollar boosted exports to another record high.
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The United States has recorded its second biggest trade deficit in history, fuelled by high oil prices and imports from China. The deficit grew six-point-nine percent in August to 54 billion US dollars...several billion more than predicted by analysts.
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America's trade deficit swelled to a record high of $55.5 billion in October as imports -- including those from China -- surged to the loftiest levels ever. Skyrocketing crude oil prices also contributed to the yawning trade gap.
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The U.S. trade deficit set a fifth consecutive annual record in 2006, reflecting a huge jump in America's foreign oil bill and an all-time high for the trade gap with China. The year ended with the December deficit increasing more than had been expected.
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A monthly deficit on its oil balance saw the UK's worldwide trade gap widen to its highest level since January.
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The U.S. trade deficit widened unexpectedly in November to a record &#36;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 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.