U.S. Trade Deficit Narrows A Bit

Jan. 13, 2005
By John S. McClenahen Although still a very large number, the U.S. trade deficit in goods and services with the rest of the world decreased in September. U.S. imports totaling $149.044 billion minus exports of $97.486 billion netted a deficit of ...
ByJohn S. McClenahen Although still a very large number, the U.S. trade deficit in goods and services with the rest of the world decreased in September. U.S. imports totaling $149.044 billion minus exports of $97.486 billion netted a deficit of $51.559 billion, nearly $2 billion less than August's revised trade deficit of $53.549 billion, the U.S. Commerce Department reported on Nov. 10. On a seasonally adjusted basis, exports of U.S. goods totaled $68.943 billion in September, their third consecutive monthly increase. Goods coming to the U.S. from other countries in September totaled $124.512 billion, some $55.569 billion more than U.S. goods exports, including, notes Merrill Lynch & Co., a 53% increase in civilian aircraft imports. The U.S. trade deficit with China in September was $15.521 billion, bringing the bilateral deficit for the first nine months of this year to $114.307 billion. Separately on Nov. 10, the U.S. Labor Department's Bureau of Labor Statistics (BLS) reported its import price index rose 1.5% in October as an 11.7% increase in petroleum prices more than offset a 0.2% decline in its price index for non-petroleum imports. BLS's export price index rose 0.7% in October, with an increase in non-agricultural export prices more than offsetting a decline in agricultural prices. Industrial supplies and materials led the increase in the non-agricultural export price index, with rising prices for chemicals, fuel and metals also contributing.

Popular Sponsored Recommendations

Discrete and Process Manufacturing 2024 Trends and Outlook for North America

Oct. 29, 2023
Manufacturers are reaping the benefits of automation and cloud-based solutions. Discover what is driving today's industry trends and how they can shape your growth priorities ...

The Manufacturer's Guide to Transforming the Service Experience.

Sept. 11, 2023
Learn how a unified data platform can make your service experiences more efficient while reducing costs. Turn your service center into a profit center and map your service transformatio...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Are You Positioned To Tackle Supply Chain Risk?

Sept. 20, 2023
Supply chain disruption is here to stay, but you can keep ahead of potential issues — and identify new opportunities — by regularly assessing your suppliers. Download our supplier...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!