US trade deficit increases
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Manufacturing News, Source : TheManufacturer.com
Published : 15 Dec 2003 17:13
The US international deficit in goods and services increased to $41.8 billion in October, from a $41.3 billion revised September figure, as imports increased more than exports, said the US Department of Commerce’s Census Bureau in a report.
Exports increased to $88 billion in October from $85.7 billion in September. Imports increased to $129.7 billion in October from $127.1 billion in September, outpacing exports.
The goods deficit with China increased from $12.7 billion in September to $13.6 billion in October. Exports to China increased $0.8 billion (primarily soybeans) to $2.9 billion, while imports from China increased $1.6 billion (primarily toys, games, and sporting goods; TVs and VCRs; stereo equipment; computers; and computer accessories) to $16.4 billion.
The goods deficit with the European Union increased from $8.1 billion in September to $8.7 billion in October. Exports to the EU increased $1.8 billion (primarily civilian aircraft, soybeans, organic chemicals, and passenger cars) to $13.6 billion, while imports from the EU increased $2.4 billion (primarily passenger cars and artwork and antiques) to $22.3 billion.
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