Arab Today, arab today us trade gap narrows in may as exports surge
Last Updated : GMT 11:40:58
Arab Today, arab today
Arab Today, arab today

US trade gap narrows in May as exports surge

Arab Today, arab today

Arab Today, arab today US trade gap narrows in May as exports surge

Port of Los Angeles
Washington - AFP

 The US trade gap narrowed more than five percent in May on record exports, indicating the US economy is benefiting from a strengthening global recovery, official data released Thursday showed.
The nation's chronic trade deficit in goods and services fell to $44.4 billion in May, down from a revised shortfall of $47.0 billion in April, the Commerce Department said.
The decline, following five straight months of increases, was larger than expected by analysts, who estimated a $45.2 billion May deficit. In April, the gap had widened sharply to the widest level in two years.
Exports of goods and services jumped 1.0 percent in May to $195.5 billion, with large gains in exports of automobiles and consumer goods.
US goods exports hit an all-time high of $135.7 billion, as automobile exports climbed to a fresh record of $13.5 billion.
"The improvement in US exports seen in the May trade data suggests that the world economic recovery is gaining traction," said Tu Packard of Moody's Analytics.
Imports edged down 0.2 percent in May to $239.8 billion, almost all of them in goods.
Petroleum imports dropped 5.0 percent to a nearly four-year low of $28.5 billion. Crude oil imports plunged 9.6 percent to $19.8 billion amid a boom in domestic oil and gas output driven by shale production.
The politically sensitive US trade gap with China grew to $28.8 billion from $27.3 billion in April. The United States long has criticized China for keeping its yuan currency undervalued, making Chinese exports cheaper.
The trade data came ahead of high-level US-China talks in Beijing next week and was expected to fuel additional pressure on Beijing to allow the yuan to trade more freely.
Treasury Secretary Jacob Lew, who will lead the US delegation with Secretary of State John Kerry at the Strategic and Economic Dialogue on July 9-10, said this week that China should allow the yuan to trade at a market-determined foreign exchange rate. "It's fundamentally not fair in terms of trading practices."
The US trade deficit with the European Union shrank 3.0 percent to $12.8 billion in May.
The US currently is negotiating with the 28-nation EU a proposed Transatlantic Trade and Investment Partnership, an ambitious free-trade and investment zone that Washington hopes will further open up the European market to US exports.
Moody's Packard projected US exports would rise by 3.6 percent in 2014 and imports by 4.1 percent as the world economy grows and the US economy expands at a moderate pace.
"The primary risk to the outlook stems from geopolitical tensions in Ukraine, Central Asia, and the South China Sea that could lead to missteps with unintended consequences for the global economic recovery," she said.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us trade gap narrows in may as exports surge Arab Today, arab today us trade gap narrows in may as exports surge

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday