Martin Crutsinger, AP Economics Writer, On Thursday June 9, 2011, 8:56 am
WASHINGTON (AP) — American companies sold more computers, heavy machinery and telecommunications equipment in foreign markets in April, pushing exports to a record high. Imports declined, reflecting a big drop in auto imports from Japan caused by supply disruptions from the March earthquake and tsunami.
The U.S. trade deficit narrowed by 6.7 percent in April to $ 43.7 billion, the lowest level since December, the Commerce Department reported Thursday.
Exports of U.S. goods and services rose 1.3 percent to a record $ 175.6 billion. Imports dipped 0.4 percent to $ 219.2 billion as imports from Japan plunged 25.5 percent.
The trade deficit with China jumped 19.4 percent to $ 21.6 billion, a development likely to increase pressure to crack down on Chinese trade practices seen by U.S. critics as unfair to American workers.
So far this year, the deficit is running at an annual rate of $ 553.4 billion, up 10.6 percent from last year’s deficit of $ 500 billion. Economists believe that the deficit will widen slightly this year but not act as a significant drag on trade as a continued boom in exports will help offset higher imports. A higher trade deficit subtracts from overall economic growth because it means more goods and services are being supplied by foreign workers rather than produced in the United States.
For April, oil imports fell 5.5 percent to $ 36 billion as the volume of petroleum shipments 11.4 percent. That was enough to offset a rise in the average price of a barrel of crude oil, which jumped to $ 103.18 in April, an increase of $ 9.42 over the average price in March. That was the biggest one-month increase in nearly three years.
The weaker value of the dollar has made U.S. goods cheaper and thus more competitive in many overseas markets but U.S. manufacturers contend that China is keeping its currency undervalued against the dollar as a way of gaining trade advantages.
The Obama administration has been pressuring China to allow its currency to rise at a faster rate against the dollar. But last month, the administration once again refused to name Chin as a currency manipulator in a report it is required to submit to Congress every six months.
Follow Yahoo! Finance on ; become a fan on Facebook.
Yahoo! Finance: Waste Management Industry News
From our Blog
- Why You Need a Dumpster September 21, 2016
- Neighborhood Togetherness Matters & Clean Up Does, Too September 19, 2016
- What Waste Should You Recycle And Throw In The Trash? August 3, 2016
- Dumpster Rentals for Business Owners August 1, 2016
- Picking a Dumpster for Your Next Roofing Project July 19, 2016
- Consequences of Illegal Dumping and Littering July 13, 2016
- How To Dispose Of Debris? June 14, 2016
- When Is A Good Time To Clean Out Your Waste? June 13, 2016
- How to Dispose of Construction Waste May 2, 2016
- Why You Should Share Rental Dumpsters With Your Neighbors April 29, 2016
2011 2012 Announces best Call Clean Company Conference Connections Covanta diving dumpster dumpsters Energy Ewaste Garb garbage Harbors Holding Identity Inc. Industry Landfill Management Plant power Present Progressive Recycling Release Rental Reports Republic Second Services Solutions Stericycle stock Third TRASH TriTech Veolia Waste yard Year
- Dumpster Diving for Gourmet Pig Feed – Novella Carpenter July 10, 2011
- A Shout Out To Eating Garbage: Dumpster Diving on CBC September 17, 2011
- MythBusters – Dumpster Diving Trailer July 16, 2011
- Kris Kemp: Dumpster Diver August 21, 2011
- What should happen after my character gets beat up? June 6, 2011
- Frugal TV – Dumpster Diving for Coupons June 11, 2011
- Dumpster Dive (Director Commentary) September 24, 2011
- Dumpster Divers Spark Palin Probe September 11, 2011
- Auburn-Placer 1 yard dumpster June 8, 2011
- Can Opener? We don’t need no stinking can opener! June 19, 2011