/javascript" src="../static/js/analytics.js"> CalTrade Report - US Trade Deficit Narrows As Exports Climb trade deficit, exports, CalTrade Report - US Trade Deficit Narrows As Exports Climb - Bilateral deficits with China, Canada drop in February CalTrade Report Asia Quake Victims 04/15/04 - US exports in February increased to $92.4 billion, up from January for nearly all major trade partners except Mexico; among the biggest increases were those in civilian aircraft, industrial machines, oil-drilling equipment, measuring instruments, semiconductors and other capital goods, autos, and auto parts. - 04/15/04 - US exports in February increased to $92.4 billion, up from January for nearly all major trade partners except Mexico; among the biggest increases were those in civilian aircraft, industrial machines, oil-drilling equipment, measuring instruments, semiconductors and other capital goods, autos, and auto parts. - US Trade Deficit Narrows As Exports Climb trade deficit, exports, CalTrade Report - US Trade Deficit Narrows As Exports Climb

 

Tuesday, June 13, 2006

 

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US Trade Deficit Narrows As Exports Climb

Bilateral deficits with China, Canada drop in February

WASHINGTON, DC - 04/15/04 - The US trade deficit dropped in February as US exports surged 4% from the previous month, the largest monthly increase in seven years, the US Department of Commerce reports.

In its April 14 report, the department calculated the February deficit at a seasonally adjusted $42.1 billion, down from the revised January record deficit of $43.5 billion.

The February deficit comprised a goods deficit of $47.2 billion and a services surplus of $5.2 billion.

US exports in February increased to $92.4 billion, up from January for nearly all major trade partners except Mexico. Among the biggest increases were those in civilian aircraft, industrial machines, oil-drilling equipment, measuring instruments, semiconductors and other capital goods, autos, and auto parts.

Meanwhile, US imports in February also went up, but at a slower pace - about 1.6% - to $134.5 billion. There were sizable import gains in autos and auto parts, natural gas and other industrial supplies, and fish and shellfish.

There were sizable drops in civilian aircraft, computers and other capital goods, and in consumer goods, especially toys and games.

US imports of crude oil dropped in February, a short month, to $8.4 billion even though the price went up to $29.17 per barrel, the highest level since the previous March.

The US bilateral trade deficit in February went down with China by 28% to $8.3 billion. The deficit with Canada fell to $5 billion.

Trade deficits with Japan, the European Union, and Mexico climbed to, respectively,? $6.1 billion, $7.4 billion, and $3.6 billion during the month.

??? US GOODS EXPORTS, IMPORTS AND TRADE BALANCE BY REGION
??????????????????????????????????? FEBRUARY, 2004

??? (Millions of dollars, on a Census basis, not seasonally adjusted)

????????????????????????????? Bilateral?Balance?????? Exports?????????? Imports?
????????????????????????????????????????????????????

Canada -?????????????????????????4,978??????????????? 14,413?????????? 19,391

Mexico -??????????????????????????3,581???????????????? 8,058?????????? 11,639

North America -???????????????? 8,559?????????????? 22,472?????????? 31,031

European Union -???????????????7,358?????????????? 13,624?????????? 20,982

European Free Trade
Association -?????????????????????? 648?????????????????? 762???????????? 1,410

Pacific Rim -????????????????????15,979?????????????? 16,743?????????? 32,722

South/Cent. America -????????1,950???????????????? 4,877??????????? 6,827

Newly Industrialized
Countries -?????????????????????????549????????????????? 6,535??????????? 7,084

Go back, or read the latest Front Page stories:

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WASHINGTON, DC – 06/13/06 – Rebounding from the failure to craft a Free Trade Area of the Americas pact, the Bush Administration is aiming at strengthening trade ties with Brazil in an effort to counter China’s fast-growing economic influence in Latin America; China should not only be seen as an export market with 1.3 billion consumers, but also as a nation of 1.3 billion ''new competitors,'' says US Secretary of Commerce Carlos Guittierez.


US Threatens WTO Action Against China

WASHINGTON, DC – 06/10/06 – The White House is threatening to slap China with a World Trade Organization case unless Beijing responds quickly to US concerns over its lack of action on securing intellectual property rights for US products; talks on bringing the WTO case are at a ''very advanced stage,'' according to a high level official in the Office of the US trade Representative.


High Hopes for Central American Trade Pact

WASHINGTON, DC – 06/08/06 – The US -Central American Free Trade Agreement (CAFTA) still faces some hurdles, but could become a reality ''very soon,'' according to Deputy Secretary of State Robert Zoellick; the issues relating to government procurement, intellectual property rights and agriculture still need to be worked through, says the former US Trade Representative following a session of the Organization of American States (OAS) General Assembly in Santo Domingo, Dominican Republic.





 

 


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