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manufactured goods exports Archives - Shopfloor

U.S. Trade Deficit Rose to a Nine-Month High in November

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The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit rose to a 9-month high, up from $42.36 billion in October to $45.24 billion in November. For the year as a whole, the monthly data were quite volatile, ranging from $36.17 billion in September to $45.26 billion in February. In 2016, the trade deficit averaged $41.27 billion, which was not far from the $41.70 billion average in 2015. The November increase stemmed from reduced goods exports (down from $123.07 billion to $122.35 billion) that corresponded with higher goods imports (up from $186.30 billion to $188.98 billion). The goods imports pace was the largest since August 2015. Read More

U.S. Trade Deficit Rebounded in October

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The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit rebounded in October after falling to a 19-month low in September. The trade deficit rose from $36.17 billion in September to $42.60 billion in October. It has been highly volatile this year (ranging from $36.17 billion in September to $45.26 billion in February), but the year-to-date average of $40.90 billion in 2016 is somewhat lower than the $41.70 billion average seen for 2015 as a whole. The October increase in the headline number stemmed from reduced goods exports (down from $126.63 billion to $123.11 billion) that corresponded with higher goods imports (up from $183.72 billion to $186.52 billion). The goods imports pace was the largest in 13 months. Read More

U.S. Trade Deficit Fell to a 19-Month Low

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The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit declined from $40.46 billion in August to $36.44 billion in September, its lowest level since February 2015. The reduced headline number stemmed from increased goods exports (up from $125.48 billion to $126.13 billion), fewer goods imports (down from $185.61 billion to $183.65) and a higher service-sector trade surplus (up from $19.67 billion to $21.08 billion), with the latter number at its highest point so far this year. The 2016 year-to-date average for the U.S. trade deficit was $40.77 billion in September, down 2.23 percent from the $41.70 billion average seen for 2015 as a whole. Read More

U.S. Trade Deficit Edged Up in August; Manufactured Goods Export Growth Remains Challenged

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The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit edged up from $39.55 billion in July to $40.73 billion in August. The data have been quite volatile through the first eight months of 2016, averaging $41.34 billion but ranging from $36.93 (March) to $45.26 (February). The year-to-date average so far this year was marginally lower than the $41.70 billion average for 2015 as a whole. The higher figure in August’s report stemmed from an increase in goods imports (up from $$184.45 billion to $185.59 billion) which was enough to offset a slight increase in goods exports (up from $124.12 billion to $125.31 billion). On the positive side, goods exports grew to their fastest pace since July 2015. Read More

U.S. Trade Deficit Widened in June to a Four-Month High

By | Economy, Shopfloor Economics, Trade | No Comments

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit rose from $40.96 billion in May to $44.51 billion in June, its highest level since February. The data have been quite volatile through the first half of 2016, averaging $40.79 billion. That was somewhat lower than the $41.70 billion average for 2015 as a whole. The higher figure in June’s report stemmed from an increase in goods imports (up from $182.05 billion to $186.41 billion) which was enough to offset a slight increase in goods exports (up from $119.83 billion to $120.37 billion).

A fair share of the jump in the trade deficit came from petroleum, with the petroleum trade deficit up from $2.89 billion in May – its lowest level since February 1999 – to $5.32 billion in June. Petroleum imports accelerated from $11.12 billion to $13.28 billion, but exports of petroleum edged down from $8.23 billion to $7.95 billion. Higher crude oil prices likely played a role in the increase in imports. Read More

U.S. Trade Deficit Widened in February, with Manufactured Goods Exports Down Sharply Year-to-Date

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The Census Bureau and the Bureau of Economic Analysis said that the U.S. trade deficit widened to its highest level in six months. The trade deficit rose from $45.88 billion in January to $47.06 billion in February. The increase stemmed primarily from an increase in goods imports (up from $180.64 billion to $183.33 billion) that was enough to offset the gain in goods exports (up from $116.77 billion to $118.59 billion). In addition, the service sector trade surplus narrowed from $17.98 billion to $17.68 billion. Meanwhile, the petroleum trade deficit declined from $4.62 billion in January to $3.55 billion in February. Indeed, imports of crude oil fell to their lowest level in 14 years. Read More

U.S. Trade Deficit Widened Slightly in December

By | Economy, Shopfloor Economics, Trade | No Comments

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit widened slightly, up from $42.23 billion in November to $43.36 billion. The underlying data were little changed from the month before, with marginal shift in goods exports (down from $121.94 billion to $121.16 billion) and goods imports (up from $183.18 billion to $183.67 billion). The service sector trade surplus also inched up a touch, increasing from $19.02 billion to $19.16 billion. For 2015 as a whole, the trade deficit averaged $42.29 billion, which was not far from the $42.36 billion seen in 2014. Yet, the underlying data reflect some major changes behind the scenes. Goods exports were off sharply, down from an average of $136.05 billion in 2014 to $126.16 billion in 2015, and a similar trend was seen for goods imports, down from $197.84 billion to $183.48 billion.

A fair share of the reduction in goods trade over the past year can be explained by shifts in the petroleum market. Petroleum exports averaged $8.29 billion in 2015, down from $12.03 billion in 2014. Likewise, petroleum imports fell from an average of $27.83 billion in 2014 to $15.17 billion in 2015. In this latest report, the petroleum trade balance widened marginally, up from $5.46 billion to $5.93 billion. Much of the dynamics in these changes over the past year are attributable to sharply lower crude oil prices, and indeed, the average price per barrel in the December calculations ($36.60) was the lowest since January 2005. Read More

U.S. Trade Deficit Narrowed Somewhat in November on Reduced Goods Imports, Exports

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The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit narrowed somewhat, down from $44.58 billion in October to $42.37 billion in November. These data points mirror averages from the past two years. For instance, the year-to-date average for 2015 was $44.37 billion, which was up from the overall 2014 average of $42.36 billion. The reduced trade deficit in this latest report stemmed mostly from reduced goods imports (down from $187.18 billion to $183.48 billion), with goods exports also slightly lower (down from $123.61 billion to $122.19 billion). Meanwhile, the service sector trade surplus edged down marginally from $18.99 billion to $18.91 billion.

At least part of the decline in goods exports could be explained by a reduction in petroleum exports (down from $7.53 billion to $7.26 billion) to its lowest level since December 2010. As a result, the petroleum trade deficit increased from $4.48 billion to $5.36 billion. Still, the petroleum trade deficit has declined significantly over the course of the past year on reduced energy prices. The monthly average has decreased from $15.81 billion for all of 2014 to $6.92 billion through the first 11 months of 2015.
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U.S. Trade Deficit Narrowed in September after Soaring in August

By | General, Shopfloor Economics | No Comments

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit narrowed, down from $48.02 billion in August to $40.81 billion in September. The August figure was the second-highest of the year, with the September reading reflecting an increase in goods exports (up from $124.44 billion to $127.32 billion) and a decrease in goods imports (down from $192.00 billion to $187.62 billion). The bulk of these shifts came from non-petroleum sources, but the petroleum trade deficit also narrowed, down from $6.95 billion to $5.58 billion. Petroleum imports were at their lowest level since May 2004. At the same time, the service-sector trade surplus was off marginally, down from $19.55 billion to $19.48 billion. Read More

U.S. Trade Deficit Widened Significantly Again in August

By | General, Shopfloor Economics | No Comments

The Bureau of Economic Analysis and the Census Bureau said that the U.S. trade deficit widened significantly again, up from $41.81 billion in July to $48.33 billion in August. This was the second-highest level of the year behind the $52.16 billion pace observed in March. The large increase in August stemmed largely from a bump in goods imports (up from $189.83 billion to $192.37 billion) and a corresponding decline in goods exports (down from $128.53 billion to $124.46 billion). At the same time, the service-sector trade surplus was marginally higher, up from $19.49 billion to $19.58 billion. Read More