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US trade deficit hits new record

Friday, November 11, 2005

The United States trade deficit hit a new record in September to $66.1 billion, up $5.7 billion from August. The trade deficit so far this year totals $529.8 billion.

A large part of the deficit is attributed to Hurricanes Katrina and Rita.

Some of the increase is attributed to energy imports that were needed after Hurricane Katrina slowed down domestic oil production. Crude oil imports dropped $350 million due to shut down refineries, yet natural gas imports increased $3.7 billion. Fuel oil and petroleum products increased by $6.8 billion. There was also a 2.6 percent drop in exports.

Also affected by Katrina, food exports fell $296 million from transportation delays caused by the shutdown of the port of New Orleans. The total decrease in all exports was $2.8 billion.

The largest trade deficit is with China, up $1.6 billion to a record $20.1 billion after a flood of toys, clothes, and televisions were shipped to the United States.

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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.
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