posted
US trade deficit shrinks to 59.1 billion dollars
Mar 09 9:21 AM US/Eastern
The US trade deficit narrowed 3.8 percent in January to 59.1 billion dollars thanks to record-breaking export growth, the Commerce Department said Friday. It was a bigger drop than expected on Wall Street, where analysts saw a deficit of 60.0 billion dollars, and marked the steepest change in the trade figure since October.
An improving trade picture could be good for first-quarter US economic growth, as a higher deficit subtracts from gross domestic product.
Total imports fell 0.5 percent to 185.8 billion dollars last month while exports jumped 1.1 percent to a new record of 126.7 billion.
US exports of capital goods grew by 1.0 billion dollars from December to January, consumer goods increased 500 million and foods, feeds and beverages went up 300 million.
But America's politically sensitive deficit with China surged 12 percent to 21.3 billion dollars, with US consumers as hungry as ever for cheap Chinese products.
The US deficit with the European Union slumped 28 percent to 6.5 billion dollars, while the shortfall with Canada grew 23 percent to 6.9 billion.
Overall, the United States imported fewer vehicles, parts and engines (down 1.5 billion dollars) and consumer goods (down by 1.4 billion) in January from December.
Exports of vehicles and parts also fell, by 700 million dollars, reflecting a deep restructuring underway in the biggest US automakers -- General Motors and Ford.
Posts: 361 | From: CT | Registered: Feb 2007
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posted
The U.S. has been "imported fewer vehicles, parts and engines and consumer goods " because the economy is in such bad shape that the average American doesn't dare buy a car or a dishwasher, for fear of his job being exported so he can't make the payment.
This is not a healthy economy and only serves those very wealthy that hoard profits and stash them off shore to avoid taxes.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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posted
US exports of capital goods grew by 1.0 billion dollars from December to January, consumer goods increased 500 million and foods, feeds and beverages went up 300 million.
beef... the mad cow (BSE) scare had caused precipitous drop in US beef exports in '05...
U.S. Beef Exports/Imports: Beef and beef variety meat exports for January-through-March 2006 totaled $425 million. This was 65 percent more than the same time last year but still only about 49 percent of January-March 2003 (pre-BSE or bovine spongiform encephalopathy) exports. Through the first quarter, Mexico accounted for 36 percent of the volume and value of U.S. beef and beef variety meat exports. Japan’s “temporary” trade suspension, South Korea, China and Russia account for nearly all of the remaining 51 percent in beef export volume that remains shut down due to BSE.
As of May 2006, the United States has re-established beef exports that accounted for 39 percent of the record $3.86 billion in beef and beef variety meat exports in 2003. At the current trade re-establishment levels, roughly $5.85/cwt. (live weight) of the $15/cwt. in export value has been returned to the market place. The U.S. government has made significant progress with reopening markets in the past few months. According to USMEF, there are currently 42 open markets and 29 closed markets to U.S. beef.
Total 2006 U.S. beef imports are up from 2005 have slowed from the record pace set during the first three months of 2004. The overall volume of lean and cooked beef imports is up just 1.5 percent from last year and the overall value up 4 percent. January-March imports from Australia are much higher (72%) than last year’s levels, mostly because a year ago Australia was selling more beef to Asian markets. Imports from Uruguay have been increasing at a staggering rate –even though about 95 percent of Uruguay’s exports to the United States are assessed at the 26.4 percent over-quota tariff rate.
posted
More correctly than "the price of oil", it is the "cost of energy production".
We NEED to get off oil and coal and go to something that doesn't depend on them and something thaat doesn't produce CO2.
Ethanol is only an improvement, not a solution.
We will never be able to compete with China and Russia for the future's oil supplies. We need to accept that fact and develop indepedent methods.
Posts: 11304 | From: Fort Worth, Texas | Registered: Mar 2005
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posted
You should see the trains I take north into Canada. They are usually composed of about a 3/1 ratio of emties to loads. Coming back south out of Canada? Almost 100% loads everytime.
-------------------- If it wasn't for bad luck I'd have no luck at all. Posts: 1529 | From: Tacoma WA | Registered: Apr 2005
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Given the two inventions you have created already, (condoms only made for male on male, and Ann Coulter's big ugly crack cream), it sounds like you have a better mind for that sort of thing than I do.
Necessity is the mother of invention, they say.
-------------------- "Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety."
- Benjamin Franklin Posts: 3898 | Registered: Dec 2005
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You're so full of it that I'd say your breath stinks too bad for any smooching...
Posts: 2634 | From: The highway | Registered: Feb 2004
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quote:Originally posted by HILANDER: You should see the trains I take north into Canada. They are usually composed of about a 3/1 ratio of emties to loads. Coming back south out of Canada? Almost 100% loads everytime.
as beedge notes elsewhere, these are insteresting travel notes... how ya doin', man?
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, but ultimately? the price of oil is the overriding factor...
