US trade grows – along with deficit

18 January 2010

18 January 2010 | Jake Kanter

US exports continued to increase in November but not fast enough to prevent the country’s trade deficit widening, figures have revealed.

Outgoing trade increased $1.2 billion (£730 million) from October to reach $138.2 billion (£85.5 billion) the following month. However, imports also grew $4.4 billion (£2.7 billion) to hit $174.6 billion (£106.7 billion) in November.

This meant the deficit - a measurement showing the greater value of imports over exports - widened from the revised figure of $33.2 billion (£20.3 billion) in October to reach $36.4 billion (£22.2 billion) in November.

Purchases of US auto parts and food expanded exports, while demand for goods, including industrial supplies, boosted imports.

US commerce secretary Gary Locke said the figures were a welcome sign of economic growth. “As we enter 2010, we are exploring new export opportunities and educating companies on the benefits of incorporating new markets to continue to boost exports and create jobs,” he said.

Last week China claimed to be the world's largest exporter, as the country’s total exports reached $1.2 trillion (£743.3 billion) in 2009.

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