The US trade deficit in June was $79.6 billion (consensus $81.7 billion) from a revised deficit of $84.9 billion (from $85.5 billion) in May. The China and US trade deficit rose to -$36.95 billion vs. May deficit $-31.54 billion. Exports were up 3.5% to a record high of $260.8 billion, led by natural gas. Imports fell again to $340.41 billion vs. May $341.43 billion These monthly swings are also influenced by the supply crisis affecting orders and deliveries. Highlights International trade … Continue reading “U.S. Trade Deficit -$79.6 Billion, China Gap Rises to -$36.95 Billion”
U.S. Trade Deficit Pulls Back from Record as Exports Rise Led by Natural Gas, Petroleum Products and Soybeans
The US trade deficit in April was $87.20 Billion down from prior month’s record $-107.7 billion. The China and US trade deficit fell to -$30.57 billion vs. $-34.00 billion last month. Exports were up 3.5% to a record high of $252.6 billion, led by natural gas. Imports collapsed to -3.4% from March rise +9.6%. These monthly swings are also influenced by the supply crisis affecting orders and deliveries. Highlights International trade balance $-87.2 billion vs. $-89.5 billion estimate. The prior … Continue reading “U.S. Trade Deficit Pulls Back from Record as Exports Rise Led by Natural Gas, Petroleum Products and Soybeans”
U.S. Trade Deficit Soars 27% to Record $859 Billion in 2021 as Imports surge from Inflation and Tariffs.
The US trade deficit in December was $80.70 Billion up from prior month’s $79.30 billion. The China and US trade deficit rose to -$355.3 B for the year. The US trade gap for 2021 in both goods and services rose 27% to hit $859 billion, an annual record as imports grew faster than exports. Imports surged 20.5% with higher prices from inflation and tariffs. Highlights The US trade Deficit rose in both goods and services rose 27% to hit $859 … Continue reading “U.S. Trade Deficit Soars 27% to Record $859 Billion in 2021 as Imports surge from Inflation and Tariffs.”
U.S. Trade Deficit Rises As Imports Continue To Grow Faster Than Exports
The US trade deficit in August was $73. 3Billion up from prior month’s $70.30 billion. The China and US trade deficit rose to -$28.1B. By contrast Australia’s trade balance for August revealed a massive surplus of AUD15,077 million
Japan Affirmed by Fitch at ‘A’ With Negative Outlook
Japan was affirmed by rating agency Fitch at ‘A’ with a negative outlook adding it expects the Bank of Japan inflation target of 2% to remain out of reach. Fitch expects growth of 2.5% in 2021 and 3.0% in 2022, as the economy recovers from a 4.6% contraction in 2020.
US Natural Gas Exports to Mexico New Monthly Record in June 2021
Pipeline Gas exports to Mexico have been rising on rising Mexican demand with insufficient domestic production capability. Costa Azul LNG import terminal conversion has seen even more US gas imported by Mexico.
Rebuilding Inventories With Imports Saw U.S. Trade Deficit Rise to $71.2 billion in May
The US trade deficit increased 3.1% to $71.2 billion in May as rebuilding inventories for rising demand in a reopening economy pulled in imports. Goods imports rose 1.2% to $234.7 billion and exports of goods gained 0.3% to $145.5 billion, a record high.
Japan Exports Surge Most in Over a Decade as Trade Surplus Returns
Japan’s April trade surplus was JPY 255.3 billion as exports from Japan jumped 38.0% yoy to JPY 7,181 billion and after a 16.1% rise in March. This was the steepest growth in outbound shipments since April 2010 with the recovery in global trade.
South Korean Exports Surge In April, Led by Semiconductor Shipments
South Korea reported exports are surging again in the first 20 days of April. The Bank of Korea at it’s most recent policy meeting said the recovery of the Korean economy has strengthened somewhat. Exports have sustained their buoyancy and facilities investment has continued to recover robustly.
Hurricane Laura To Hit US Crude Oil Exports in Texas
US crude exports could take big hit from Hurricane Laura, which is already a Category 4. Argus media reports Laura is set to make landfall near The Port of Beaumont, Texas, later Wednesday. This is the third top port hub for American crude exports.