trade deficit

China's Exports Explodes - 140% yearly increase in trade gap

Recall how the Obama administration refuses to label China a currency manipulator. Now recall the U.S. needs 10,600,000 jobs just to return to a 5% unemployment rate. Now recall the U.S. has lost 2.4 million jobs due to China from 2001-2008.

Now the news, China's trade gap increased 140% from one year ago.

The trade gap rose 140 percent, to $20.02 billion, compared with a year earlier, the customs bureau said on its Web site on Saturday. That compares with the $15.6 billion median estimate of 24 economists surveyed by Bloomberg News. Exports surged 43.9 percent compared with a year earlier and import growth moderated for the third month, rising by 34.1 percent.

Notice how exports soared while imports, uh, not so much.

The value of outbound shipments rose to a record $137.4 billion last month, the customs bureau said. The previous high was $136.68 billion in July 2008, before the global financial crisis deepened. The 43.9 percent expansion compared with the median 38 percent forecast in a Bloomberg News survey of 24 economists.

Trade Deficit for March 2010 - $40.4 billion

The March 2010 U.S. trade deficit increased $1 billion from last month $39.4 billion (revised) to $40.4 billion. Exports were up $4.6 billion from last month whereas imports increased $5.6 billion from January.

 

March exports of $147.9 billion and imports of $188.3 billion resulted in a goods and services deficit of $40.4 billion, up from $39.4 billion in February, revised. March exports were $4.6 billion more than February exports of $143.3 billion. March imports were $5.6 billion more than February imports of $182.7 billion

Exports were up 20.4%, imports, 24.2% for the year and exports increased 3.2% and imports 3.06%.

Trade Deficit for February 2010 - $39.7 billion

The Trade deficit increased $2.7 billion from last month to $39.7 billion. Exports increased $0.3 billion where imports increased $3.0 billion from January.

 

February exports of $143.2 billion and imports of $182.9 billion resulted in a goods and services deficit of $39.7 billion, up from $37.0 billion in January, revised. February exports were $0.3 billion more than January exports of $142.9 billion. February imports were $3.0 billion more than January imports of $179.8 billion.

The Boat Continues to Leak

When a boat you are on is leaking you either start bailing out the water or 'abandon ship'. Right? Well guess what our boat is continuing to leak. Census Bureau announced today that our Trade Deficit grew in November to $36.4 billion:

total November exports of $138.2 billion and imports of $174.6 billion resulted in a goods and services deficit of $36.4 billion, up from $33.2 billion in October, revised. November exports were $1.2 billion more than October exports of $137.0 billion. November imports were $4.4 billion more than October imports of $170.2 billion.

Emphasis is NOT mine!

Believe it or not there was a time when we didn't have such a large Trade Deficit:

But it certainly wasn't recent history.

Trade Deficit Decreased $2.8 billion, 7.6% from last month - Trade October 2009

The trade deficit for October 2009 was -$32.9 billion, down $2.8 billion from last month's deficit of $35.7 billion. The complete trade report is here.

Commerce, announced today that total October exports of $136.8 billion and imports of $169.8 billion resulted in a goods and services deficit of $32.9 billion, down from $35.7 billion in September, revised. October exports were $3.5 billion more than September exports of $133.4 billion. October imports were $0.7 billion more than September imports of $169.0 billion.

trade deficit Oct. 2009

This is some very good news for both imports and exports increased, it's simply that exports increased more. This adds to U.S. GDP.

In comparison to a year ago, exports are down 8.6% while imports are down 18.8%.

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