US trade deficit shrinks
December 10th, 2011 - 11:30 am ICT by IANSWashington, Dec 10 (IANS/EFE) The US trade deficit declined 1.6 percent in October to $43.46 billion, its lowest level this year, the Commerce Department said Friday.
The cumulative trade deficit for the first 10 months was $465.22 billion, compared with $420.73 billion in the same period of 2010.
US exports of goods and services fell 0.8 percent in October to $179.17 billion, while imports dropped 1 percent to $222.64 billion, the Commerce Department said.
The value of US capital goods exported in October, $42.3 billion, is the highest on record, the department said, while exports to China and Latin America also reached unprecendented levels.
Those figures suggest that rising demand for US products and services in developing countries could offset the effect on exports of an expected recession in Europe.
Imports of crude oil account for 58 percent of the US trade deficit through Oct 31, the Commerce Department said.
–IANS/EFE
rd
- US trade deficit shrank 13 percent in July - Sep 09, 2011
- US trade deficit went up in November 2011 - Jan 14, 2012
- US trade deficit jumps 15 percent - Jul 13, 2011
- Export growth slows to 10.8 percent in October; deficit widens - Nov 08, 2011
- US trade deficit grew 33 percent in 2010 - Feb 12, 2011
- US trade deficit falls amid drop in imports, exports - Apr 13, 2011
- India's exports up 10.1 percent to $25.4 bn in January - Feb 09, 2012
- India's exports rise 26.5 percent in November - Jan 03, 2011
- India's exports rose 10 percent in January - Mar 01, 2012
- Brazil announces plan to boost exports - Feb 18, 2012
- India's exports rise 36 percent in September - Oct 12, 2011
- US trade deficit widens to $52.6 bn - Mar 10, 2012
- India's exports growth diminishes - Apr 02, 2012
- India's exports growth falls to 3.87 percent in November - Jan 02, 2012
- India's exports surge by 26.8 percent in November: Rahul Khullar - Dec 08, 2010
Tags: 10 months, capital goods, china, commerce department, crude oil, developing countries, efe, europe, latin america, oct 31, recession, trade deficit