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US trade deficit down, while oil imports fall to their lowest in four years

Saturday, October 4th 2014 - 10:29 UTC
Full article 5 comments
U.S. exports have increased 4.1% since August 2013 and imports have grown 3.7% in the period. U.S. exports have increased 4.1% since August 2013 and imports have grown 3.7% in the period.

The U.S. trade deficit slipped 0.5% in August to 40.1 billion, the lowest since January, the Commerce Department reported Friday. Oil imports fell to their lowest level in four years.U.S. exports increased 0.2% in August to a record 198.5 billion, while imports grew 0.1% to 238 billion. After a 40.3 deficit in July, analysts expected a 40.9 billion trade gap in August.

 The U.S. exported a record 14.1 billion in petroleum products and imported 27.2 billion, the smallest amount since late 2010. As a result, the country's energy deficit dropped in August to 13.1 billion, the lowest level in 10 years.

U.S. exports have increased 4.1% since August 2013 and imports have grown 3.7% in the period.

The shrinking trade deficit may provide impetus for stronger economic growth in the United States in the second half of this year, as U.S. exports continue to increase despite weak international demand.

Categories: Economy, United States.

Top Comments

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  • Briton

    Good on you America,,,

    Come on Britain we need to do a lot better...

    Oct 05th, 2014 - 01:38 am 0
  • ilsen

    How long until USA is energy self sufficient?
    Anyone got the figures?
    Yankeeboy?
    Can't be long now. And will certainly change global affairs when it does happen.

    Oct 05th, 2014 - 09:48 pm 0
  • yankeeboy

    Its hard to say when we'll be self sufficient prob 5-10yrs, we actually may start exporting before we reach that point. I think it'll pass in the next Congress. There are a few states that have LOTS of oil that haven't approved the new technologies, I think that will change soon plus a new Prez will open up Federal land/water that Obama has had closed for the last 6 years.
    We have the cheapest nat gas, it is now cheaper to mfg in the USA than in China.
    Between the exporting of fuel and bringing home mfg the next decade or two will see major changes in the USA economy and how we react to world events.

    Oct 06th, 2014 - 10:44 pm 0
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