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5 May 2015
US Trade deficit in March rises to highest level since 1996
FXStreet (Mumbai) - The Commerce Department data released on Tuesday showed the US trade deficit widened to USD 51.5 billion in March, beating the estimate of USD 40.3
billion.
Imports rise due to settlement of port dispute
Exports edged up 0.9% to USD 187.8 billion, but imports leaped a record 7.7% to USD 239.2 billion. The rise in imports and the resultant rise in the trade deficit reflects the settlement of a major West Coast port dispute that allowed piles of imported goods sitting on docks to be processed and shipped to US buyers.
The sharp rise in the trade deficit suggests that the US first quarter GDP could be revised to the negative territory from a meager 0.2% rate showed by the preliminary estimate. The trade deficit in the first quarter averaged USD 43.3 billion, up 5.2% compared to USD 41.17 billion in same three months in 2014.
billion.
Imports rise due to settlement of port dispute
Exports edged up 0.9% to USD 187.8 billion, but imports leaped a record 7.7% to USD 239.2 billion. The rise in imports and the resultant rise in the trade deficit reflects the settlement of a major West Coast port dispute that allowed piles of imported goods sitting on docks to be processed and shipped to US buyers.
The sharp rise in the trade deficit suggests that the US first quarter GDP could be revised to the negative territory from a meager 0.2% rate showed by the preliminary estimate. The trade deficit in the first quarter averaged USD 43.3 billion, up 5.2% compared to USD 41.17 billion in same three months in 2014.