The August 2010 U.S. trade deficit increased to $46.347 billion. July's revised deficit was $42.583 billion. The goods deficit with China alone increased $2.1 billion. That's an 8.84% U.S. trade deficit increase in one month. U.S. exports increased by a measly $0.3 billion, to $153.5 billion, while imports increased by $4.1 billion, to $200.2 billion.
In case you missed China's guilt trippin' the United States and claiming economic collapse if they are forced to quit their currency manipulation, check this out.
China, the world’s biggest exporter, posted a $16.9 billion trade surplus for September, capping the largest quarterly excess since the financial crisis in 2008 as pressure mounts for a stronger yuan.
Exports rose 25.1 percent from a year earlier and imports climbed 24.1 percent, the customs bureau said on its website today. The third-quarter trade gap was $65.6 billion, the most since a $114 billion surplus in the final three months of 2008.
The story gets weirder, half of the headlines claim china trade slowed dramatically when seemingly only Bloomberg got it right by the numbers. Here is the China state newspaper article, which explains some of spin on the numbers:
China's September trade surplus falls to $16.88 billion, the General Administration of Customs (GAC) said on Wednesday.
The country's exports increased 25.1 percent in September from a year earlier to $144.99 billion, but the pace of growth slowed from August's 34.4-percent surge.
The country's imports rose 24.1 percent year on year to reach $128.11 billion last month, with the growth rate down 11.1 percentage points from that in August.
The July 2010 U.S. trade deficit decreased from last month's $49.8 billion to $42.8 billion. That is a 14% U.S. trade deficit decrease in one month, yet a yo-yo effect, bringing the trade deficit back about the same level as May 2010. U.S. exports increased by $2.8 billion, to $153.3 billion, while imports decreased $4.2 billion, to $196.1 billion.
The June 2010 U.S. trade deficit increased from last month's $42 billion (revised) to $49.9 billion. That is a 14% U.S. trade deficit increase in one month. Even worse, U.S. exports decreased by $2.0 billion, to $152.4 billion, while imports increased $5.9 billion, to $200.3 billion.
China's July exports of $145.5 billion represented a 38% increase over July 2009, down from June's 44% increase. But growth in imports — which hit $116.8 billion — slowed even more dramatically, leading to the bulging surplus.
Most interesting is how this is downplayed in the U.S. press, for the obvious, confront China on currency manipulation is seemingly only a topic for sound bytes.
Note the different percentage quotes between USA today (above) and the China English newspaper. Both percentages are true but the U.S. press downplays the never ending global imbalance for it means the U.S. must act on currency manipulation as well as other unfair trade practices by China.
Latest statistics show that China's monthly trade surplus trumped almost all forecasts to hit an 18-month high, up 170 percent from a year earlier to $28.7 billion.
In view of the fragile global recovery, most observers believed China could hardly run an even larger monthly trade surplus than what it posted in June, a whopping $20 billion.
The May 2010 U.S. trade deficit increased from last month's $40.3 billion (revised) to $42.3 billion. Imports increased $5.5 billion from last month, more than exports, which increased $3.5 billion in May. That's a 4.73% jump in the trade deficit in one month. Trade deficits subtract from GDP.
The April 2010 U.S. trade deficit increased $300 million billion from last month $40 billion (revised) to $40.3 billion. Both imports and exports decreased. Imports dropped -$800 million and exports were down a billion dollars.
The March 2010 U.S. trade deficit increased $1 billion from last month $39.4 billion (revised) to $40.4 billion. Exports were up $4.6 billion from last month whereas imports increased $5.6 billion from January.
March exports of $147.9 billion and imports of $188.3 billion resulted in a goods and services deficit of $40.4 billion, up from $39.4 billion in February, revised. March exports were $4.6 billion more than February exports of $143.3 billion. March imports were $5.6 billion more than February imports of $182.7 billion
Exports were up 20.4%, imports, 24.2% for the year and exports increased 3.2% and imports 3.06%.
The Trade deficit increased $2.7 billion from last month to $39.7 billion. Exports increased $0.3 billion where imports increased $3.0 billion from January.
February exports of $143.2 billion and imports of $182.9 billion resulted in a goods and services deficit of $39.7 billion, up from $37.0 billion in January, revised. February exports were $0.3 billion more than January exports of $142.9 billion. February imports were $3.0 billion more than January imports of $179.8 billion.
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