Reply #15: U.S. APRIL TRADE GAP WIDENS TO $57.0 BILLION

[UpInArms]

http://www.marketwatch.com/news/story.asp?guid=%7B0E5A2A2E%2DB134%2D4ACB%2D976E%2DD15B12DD6007%7D&siteid=mktw

excerpt:

So far in 2005, the trade deficit -- the difference between imports and exports -- is up 12.6% from the pace a year ago. The U.S. trade gap was a record $617.58 billion in 2004.

The trade gap in March was revised down to $53.6 billion, compared with the initial estimate of $55.0 billion.

U.S. producers sold a record amount of goods overseas in April, but on the flip side, U.S. consumers and businesses bought a record amount of imported goods.

Exports rose 3.0% to a record $106.4 billion in April.

Imports rose 4.1% to a record $163.4 billion, mostly as a result of record crude oil prices.

Imports of goods alone rose 4.8% to $136.7 billion. U.S. businesses bought a record amount of industrial supplies- mostly petroleum- and capital goods. The U.S. imported $19.4 billion of crude oil in April, the second highest amount on record.

<snip>

The U.S. trade deficit with China widened to $14.7 billion in April compared with $12.0 billion in the same month last year. Imports of Chinese textiles, a contentious political issue this year as global quotas on textile products have ended, are up 51.7% year to date, the department said.

...more at link...