MercoPress. South Atlantic News Agency

US posts record trade deficit in April.

In spite of another United States trade record deficit which reached 48,3 billion US dollars in April, Latinamerican and Caribbean countries trade surplus with the US fell in the same month to $5.79 billion, according to the latest release from the U.S. Commerce Department.

Latinamerican and Caribbean exporters' surplus between January and April 2004 totaled $22.89 billion, compared with $22.04 billion during the first four months of 2003.

Mexico the US main trade partner in the area managed a 3.21 billion US dollars surplus in April, down from 4.68 billion of March, and bringing the four months total to $13.62 billion, down from $14.23 billion between January and April of 2003.

Brazil's trade surplus with the US increased from $203 million in March to $468 million in April with the four months of 2004 totaling $944 million, far below the $2.30 billion recorded during the same period last year.

Colombia's trade surplus increased from $129 million in March to $172 million in April. Colombia's surplus in the first four months of 2004 reached $691 million compared with $977 million during the same period in 2003.

Venezuela trade surplus with the US in April was 1.54 billion US dollars compared with $1.71 billion the previous month. During the first four months of 2004 surplus was $6.10 billion, up from $3.53 billion during the same period in 2003. Venezuela is among the top five suppliers of oil to the US but in 2003 the industry was virtually shutdown by a general labor walkout.

US global imports during April increased 0.2% to 142.3 billion US dollars but exports dropped 1,5% to 93.9 billion making the record trade deficit.

China posted the highest surplus with 12 billion US dollars the largest since October 2003, however with Japan there was a slight contraction from 6,7 billion in March to 6,4 billion in April.

Experts point to high oil prices and the recovering US economy (retail sales jumped 1.3% and oil prices 4% in May), as the main causes for the record trade deficit.

The automobile industry was the most dynamic during May with a 2.7% expansion compared to a 2.1% decline in April.