SME Times is powered by   
Search News
Just in:   • Market mayhem: Sensex tanks 713 pts, Nifty 205 pts  • Demonetisation threw up political, economic puzzles: Arvind Subramanian  • Trump commits to $750 bn defence budget  • Tea exports up 1.17 percent in Jan-Oct  • Amazon India to host online sales event for SMBs 
Last updated: 07 Dec, 2018  

USA.9.Thmb.jpg US trade deficit hits 10-year high

USA.9.jpg
   Top Stories
» Market mayhem: Sensex tanks 713 pts, Nifty 205 pts
» Tea exports up 1.17 percent in Jan-Oct
» Auto sales down 3.43 percent in November
» Direct tax collections rises 15.7 per cent in November
» Agri export policy to push exports, farmers' income: FIEO
IANS | 07 Dec, 2018
US trade deficit widened for a fifth consecutive month and reached a 10-year high in October, according to data from the Commerce Department.

The total trade gap increased 1.7 per cent to $55.5 billion in October, spurred by all-time high imports, Xinhua news agency quoted the Department as saying.

The statistics showed the US bought an additional $2 billion worth of consumer goods in October compared with September.

Exports of goods and services dropped $300 million, or 0.1 per cent month-over-month, to $211 billion in October.

Decreased goods exports mostly included foods, feeds, beverages and capital goods, while the increase in services exports was mainly driven by an upward trend in financial, research and development and professional and management services.

The trade deficit added up to $502.7 billion in the first 10 months this year, up more than 11 per cent compared with the same period in 2017, the report said.

Economists believe that raising tariffs on imports is not the right way to reduce the country's long-time trade deficit, which is likely to increase further because of the planned US fiscal stimulus.

A strong US dollar has also contributed to the widening of the trade deficit.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 10 Dec, 2018
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» The marketing mix for small business marketing(4)
» Increase credit flow to boost GDP: FICCI(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter