US trade gap surges to 2-year high of US$47.2b
Print Edition
THE US trade deficit jumped to a two-year high in April, as exports declined and imports surged to a record high.
The deficit rose to US$47.2 billion in April, up 6.9 percent from an upwardly revised March deficit of US$44.2 billion, the Commerce Department said yesterday.
Exports dropped for the fourth month out of the past five, falling 0.2 percent to US$195.4 billion. Meanwhile, imports climbed 1.2 percent to an all-time high of US$240.6 billion, reflecting record shipment levels of foreign-made cars, food, computers and other goods.
A wider trade deficit can act as a drag on growth because it means US companies are earning less from their overseas markets. But it could also indicate rising US demand as the country shakes off the effects of a harsh winter.
“We’re obviously wary of falling back on using the weather as an excuse again, but the extreme cold winter, coupled with the drought in California, does partly explain why the US is suddenly importing a lot more food and exporting less,” said Paul Ashworth, chief US economist at Capital Economics.
In 2013, the trade deficit shed 11.4 percent to US$476.4 billion. The result was led in part by a boom in US energy production that cut America’s dependence on foreign oil while boosting petroleum exports to a record high.
A larger trade gap in the first three months of this year compared with the fourth quarter shaved nearly a full percentage point from growth.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
