Arab Today, arab today us trade deficit shrinks to 43bn in february
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

US trade deficit shrinks to $43bn in February

Arab Today, arab today

Arab Today, arab today US trade deficit shrinks to $43bn in February

Washington - AFP

The US trade deficit edged lower in February due largely to a decline in crude oil imports, government data released on Friday showed. The Commerce Department reported the trade gap shrank to $43 billion, down from the revised $44.5 billion in January. The decline, which came after the trade deficit widened a sharp 16.7 percent in January, surprised analysts who had projected a deficit of $44.7 billion. A big factor in the narrowing trade gap was a more than five percent drop in crude oil imports, to $23.6 billion. The overall trade patterns, excluding oil, suggested the trade gap will still deliver a further hit to US gross domestic product growth, said Jim O'Sullivan, chief US economist at High Frequency Economics. US exports grew 0.8 percent to $186 billion, strengthened by exports of industrial goods (up 4.5 percent) and automobiles (up 1.6 percent). Meanwhile, US imports held at $228.9 billion. "Encouragingly, real goods exports are up at a 4.5 percent annual rate so far in Q1, a turnaround from -5.5 percent in Q4," O'Sullivan said. But US imports of foreign automobiles rose 4.6 percent between January and February, hitting $24.8 billion. On a 12-month basis, the US trade deficit dropped by 3.5 percent. The much-watched US trade deficit with China declined to $23.4 billion from $27.8 billion in the prior month. The US trade deficit with countries in the Organization of Petroleum Exporting Countries, or OPEC, fell to $3.6 billion from $6.4 billion.

arabstoday
arabstoday

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 deficit shrinks to 43bn in february Arab Today, arab today us trade deficit shrinks to 43bn in february

 



Arab Today, arab today

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 deficit shrinks to 43bn in february Arab Today, arab today us trade deficit shrinks to 43bn in february

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
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