Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 25, 2008 10:54:41 PM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Trade Gap Dips to Lowest Level in 3 Years

Posted Sep 11, 07 9:25 AM CDT in Business,  US 

(Newser) – The US trade gap—the difference in total value between imports and exports—dropped to a 3-year low in July as exports jumped on a weak dollar and growing overseas demand. The figure fell 0.3% to $59.2 billion, roughly on par with the estimate economists surveyed by Bloomberg foresaw. Said one analyst, “the broad outlook for trade looks quite positive.”

The trade gap with China grew to $23.8 billion, the most since the record $24.4 billion in October. The dollar has dropped 7.9% since 2006 began, and as foreign economies grow, international demand for American cars and machinery is rising. The trade deficit is expected to continue shrinking as the US housing debacle and credit controls check imports.

Source Bloomberg

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • China Finds Worms, Low Standards in US Goods

    Aug 31, 07 5:35 PM CDT
    China Finds Worms, Low Standards in US Goods China got off the latest shot in the war over substandard imports, reporting today it had found tiny worms in wooden packaging and substandard vitamins and children’s fish oil imported from the US. Simultaneously, China unveiled a wide-ranging recall system for its own exports that requires manufacturers to stop production and sales when defects are discovered, Reuters reports. More »

  • China Threatens to Crash Dollar

    Aug 8, 07 5:04 AM CDT
    China Threatens to Crash Dollar The Chinese government is threatening to crash the American dollar by liquidating its $1.33 trillion in foreign reserves if the US dares impose trade sanctions to force a revaluation of yuan, reports the Telegraph. Two Communist Party officials have given interviews in recent days with stern warnings directed at the US that China is prepared to engage in an economic "nuclear option." More »

  • China's Surplus Soars to $26.9B

    Jul 10, 07 2:59 PM CDT
    China's Surplus Soars to $26.9B China's trade surplus surged to a record $26.9B in June, an 87% increase since last year. Economists attribute the trade gap to China's significantly—as much as 40%—underpriced currency, the yuan, reports Bloomberg. Half of China's surplus is with the US, which recently began preparing legislation to sanction countries that deliberately use a weakened currency to gain an unfair advantage. More »

Graphic charts the monthly changes in U.S. imports, exports and trade deficit; 1c x 3 inches; 46.5 mm x 76.2 mm   (Associated Press)
A tugboat steers a barge loaded with shipping containers from the port of Newark, N.J. through the Kill Van Kull to New York Harbor on Friday, June 1, 2007. The trade deficit dropped sharply in April...   (Associated Press)
A worker high atop a stack of cargo containers prepares a ship operated by Taiwan-based Yang Ming Marine Transport Corp. for unloading Tuesday, April 10, 2007 at the Port of Tacoma in Tacoma, Wash. The...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 3)

Tags

China  • United States  • housing market  • US dollar  • credit market  • exports  • trade  • imports  • trade deficit  • international trade


Loading...

Loading...

Today's Most Popular


Other US Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »