US trade deficit pushed up by rising oil import costs

| May 12, 2011 | 0 Comments
US trade deficit pushed up by rising oil import costs

The US trade deficit swelled in March to $48.18 billion (£29.5 billion) – up from $45.4 billion the previous month.

The widening was attributed to higher prices for imported oil, the Commerce Department reported.

Imports rose 4.9% to $220.8 billion, while exports grew 4.6% to a record high of $172.7 billion – the largest monthly gain since 1994.

The rise was led by food and beverages, and industrial supplies.

The politically sensitive trade deficit with China narrowed to $18.1 billion, from February’s figure of $18.8 billion.

Tags: , , , , , , ,


Comments (0)

Trackback URL | Comments RSS Feed

There are no comments yet. Why not be the first to speak your mind.

Leave a Reply


Visited 1048 times, 2 so far today