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$763.6 billion U.S. Trade Deficit Sets Record in 2006; Deficit with China Soars to $232B

U.S. international trade deficit rose 6.5% to $763.6 billion in 2006, a fifth consecutive annual record, according to data from the Commerce Department. Trade deficit rose 5.3% in December to $61.2 billion.

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US Economic Indicators: Trade Deficit Declines 1%; Wholesale Trade Jumps 1%

The U.S. trade deficit unexpectedly declined 1% in November to $58.2 billion, the smallest since July 2005 as exports reached a record and oil imports declined, reports the Department of Commerce. 

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U.S. Current Account Trade Deficit Hits Another Record

The U.S. current-account trade deficit increased 3.9% to $225.6 billion (preliminary) in the third quarter of 2006 from $217.1 billion in the second quarter, according to The Commerce Department. As a share of U.S. GDP, the deficit increased to 6.8% from 6.6%. 

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U.S. Trade Deficit Falls to Lowest Level in 14 Months

October 2006
Trade Deficit

$58.9 Billion
Lowest in 14 Months

The U.S. trade deficit of goods and services narrowed to $58.9 billion in October 2006 from $64.3 billion in September, according to the U.S. Bureau of Economic Analysis. This is the lowest level in 14 months, driven by lower crude oil prices. The 8.4% drop from September was the biggest monthly decline since December 2001. 

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China Projects Trade Surplus to Hit $150B; Forex Reserves to Top $1 trillion

China's total trade surplus is expected to yet another record $150 billion this year, nearly 50% above the 2005 level, according to Commerce Ministry figures released on Friday. Exports this year are expected to total $960 billion, with imports rising to $810 billion, according to the official Xinhua News Agency. 

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US Trade Deficit Narrows by Most in 5 Years; Deficit with China at Record $23 billion in Sep.

The U.S. international trade deficit  in goods and services narrowed to $64.3 billion in September 2006, $4.7 billion less than the $69.0 billion in August, according to the U.S. Bureau of Economic Analysis. Total September exports were $123.2 billion and imports were $187.5 billion. The drop of $4.7 billion in September was the biggest one-month decline since February 2001.

In September 2006, the goods and services deficit was down $0.7 billion from September 2005. Exports were up $16.8 billion, or 15.8%, and imports were up $16.2 billion, or 9.4% from 2005.

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U.S. Trade Deficit Hits Record in August; U.S. Budget Deficit Trimmed

The U.S. deficit in international trade of goods and services climbed 2.7% to a record $69.86 billion in August, according to the Commerce Department. In August, the goods and services deficit was up $11.1 billion from August 2005. Exports were up $14.4 billion, or 13.4%, and imports were up $25.5 billion, or 15.3% from year ago period.

U.S. exports rose 2.3% to a record $122.42 billion in August, on strong sales of American-made aircraft, foods, and consumer goods. Growth of U.S. imports outpaced exports, rising 2.4% in August to $192.28 billion

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U.S. Current Account Deficit Climbs to $218 billion, 2nd Highest Ever

The U.S. current-account deficit, the broadest measure of U.S. international trade in goods and services, receipts and payments of income, and net unilateral current transfers (such as gifts) increased to $218.4 billion (preliminary) in the second quarter of 2006 from $213.2 billion in the first quarter, reports the US Dept. of Commerce. The current account deficit remained at 6.6% of U.S. GDP.

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U.S. Trade Deficit Hits Highest Level in History to $68 Billion in July

US Trade DeficitThe U.S. trade deficit hit a record $68 billion in July, surpassing the old monthly record of $66.6 billion set last October, according to the Commerce Department. High oil prices in July pushed US foreign oil bill to the highest level in history. The July deficit jumped 5% from the June imbalance of $64.8 billion (revised). 

The July trade deficit was higher than Wall Street expected. The median estimate of 22 economists surveyed by Dow Jones Newswires was a deficit of $65.50 billion. (WSJ)

  • The deficit is running at an annual rate of $776 billion
  • U.S. exports edged down 1.1% percent to $120 billion 
  • Imports rose 1% from June level to a record high of $188 billion
  • US foreign oil bill climbed 4.8% to an all-time high of $28.5 billion
  • The deficit with China declined slightly in July to $19.6 billion

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US net debt to the rest of the world increased to a record $2.69 trillion


Bureau of Economic Analysis International Investment Position

The U.S. net international investment position at yearend 2005 was -$2,693.8 billion with direct investment valued at current cost, as the value of foreign investments in the United States exceeded the value of U.S. investments abroad. At yearend 2004, the U.S. net international investment position was -$2,360.8 billion.

The -$333.0 billion change in the net investment position from 2004 was largely due to record private net foreign purchases of U.S. securities and to depreciation of most major foreign currencies against the U.S. dollar, which lowered the dollar value of U.S.-owned assets abroad. 

The price appreciation of U.S.-held foreign stocks surpassed by a large amount price appreciation of foreign-held U.S. stocks.

U.S. official reserve assets decreased $1.5 billion to $188.0 billion.

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