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ECON: Trade Deficit Narrower Than Expected, Oil Deficit Lowest Since 1997
Posted to: Micro News
Friday, February 8, 2013 8:41 AM
- Trade Deficit $38.54 bln, narrowest since Jan 2010
- Exports +2.1 pct vs +1.0 last month
- Imports -2.7 pct vs +3.7 pct last month
- Opec deficit $3.4 bln vs $6.6
- Petroleum deficit lowest since August 2009
- Crude Imports lowest since Feb 1997
- Total 2012 deficit $540 bln vs $559.9 bln in 2011
The U.S. Census Bureau and the U.S. Bureau of
Economic Analysis, through the Department of Commerce,
announced today that total December exports of $186.4 billion
and imports of $224.9 billion resulted in a goods and services
deficit of $38.5 billion, down from $48.6 billion in November,
revised. December exports were $3.9 billion more than
November exports of $182.5 billion. December imports were
$6.2 billion less than November imports of $231.1 billion.
In December, the goods deficit decreased $9.4 billion
from November to $56.2 billion, and the services surplus
increased [forwardfullbody].7 billion from November to $17.7 billion.
Exports of goods increased $3.3 billion to $132.6 billion, and
imports of goods decreased $6.1 billion to $188.8 billion.
Exports of services increased [forwardfullbody].6 billion to $53.8 billion, and
imports of services decreased [forwardfullbody].1 billion to $36.1 billion.
The goods and services deficit decreased $13.2 billion
from December 2011 to December 2012. Exports were up
$8.6 billion, or 4.9 percent, and imports were down $4.6
billion, or 2.0 percent.
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