Gimy
05-11-2007, 07:11 PM
The US trade deficit widened by more than expected in March, as higher oil and petrol prices sent imports to the second-highest level on record.
The trade gap grew 10.6% compared with February to $63.9bn, according to figures from the Commerce Department.
Import price figures for April were also released, showing a larger-than-expected 1.3% rise.
Higher oil and petrol prices were also been blamed for the rise in the import price figure from the Labor Department.
Record imports of food, beverages, animal feed and consumer goods also helped to widen the overall trade gap.
But the US trade deficit with China narrowed by 6.4% to $17.2bn with exports from that country falling to their lowest level for almost a year.
The weak dollar was good news for exporters, and sales to Canada and the European Union hit record levels.
The trade gap grew 10.6% compared with February to $63.9bn, according to figures from the Commerce Department.
Import price figures for April were also released, showing a larger-than-expected 1.3% rise.
Higher oil and petrol prices were also been blamed for the rise in the import price figure from the Labor Department.
Record imports of food, beverages, animal feed and consumer goods also helped to widen the overall trade gap.
But the US trade deficit with China narrowed by 6.4% to $17.2bn with exports from that country falling to their lowest level for almost a year.
The weak dollar was good news for exporters, and sales to Canada and the European Union hit record levels.