Strong exports narrow US deficit
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Soaring US exports help to narrow the country's trade deficit, while unemployment falls slightly.
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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 more than expected in July, but still was the second highest on record at $50.1 billion even though imports dropped for the first time in 10 months and exports leapt higher, the US government said on
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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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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 hit a record deficit of $166.2 billion last quarter in trade and capital flows with the rest of the world.
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THE US trade deficit shrank to $US51.6 billion ($67.86 billion) in September, an improvement brought about as exports posted their best month on record.
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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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The trade gap totaled $19.5 billion as foreign demand for exports stayed strong despite worries about slowing global growth, the government news agency reported.
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Strong business investment and higher exports drove the U.S. economy ahead at a robust 4 percent annual rate in the second quarter, before the onset of turmoil in credit markets that is expected to brake growth.
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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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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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The U.S. trade deficit declined slightly in July, helped by record exports that offset the biggest foreign oil bill in nearly a year. But even a spate of recalls did not stop the deficit with China from climbing to the second-highest level on record.
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The US trade gap shrank by a sharper than expected 3.7% in September as exports rose to a record high, despite a new record deficit with China.
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Strong overseas sales helped offset weakness in the North American market.
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A record drop in oil import prices  pushed the U.S. trade deficit in October to its lowest level in  more than a year, while U.S. exports rose to a new high, a  Commerce Department report showed on Tuesday.
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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.