Home | Hotels | Hotels Video | China Flights | China Train Tickets | Main cities | China map | Contact us | Reservation Status  

China Travel & Tourism News


Search China Travel News:

Trade Gap Swells Unexpectedly to Record


12-Jan-2005 - Reuters
WASHINGTON (Reuters) - The U.S. trade deficit widened unexpectedly in November to a record $60.3 billion, propelled by the highest-ever oil import bill and a drop in exports, a government report showed on Wednesday.
The trade gap topped $60 billion for the first time and defied Wall Street expectations that it would narrow to $54 billion in November. October's deficit was revised up to a $56.0 billion gap from the originally reported $55.5 billion.

The deficit has continued to balloon despite a 50 percent drop in the value of the dollar against the euro over the past three years, which has been expected to gradually narrow the gap.

The trade shortfall for the first 11 months of 2004 was $561.3 billion, well past the record of $496.5 billion set for all of 2003.

Although average oil import prices retreated slightly in November, they remained high enough to push the value of crude oil imports to record $13.4 billion.

Meanwhile, imports from China fell only fractionally to $19.6 billion from the record $19.7 billion set in October. The trade imbalance with China accounts for about 25 percent of the overall U.S. trade deficit.

Rising U.S. consumer demand for household goods and other products helped boost overall imports by 1.3 percent to a record $155.8 billion. Strong demand for advanced technology products widened the deficit in that category to a record $5.8 billion.

U.S. exports slipped 2.3 percent to $95.6 billion, as shipments of U.S. industrial supplies and materials -- including things such as plastic and chemicals -- fell in the face of weaker foreign demand. U.S. auto and auto part exports also edged lower.

Even though the drop in the value of the dollar makes U.S. exports more competitive, demand from major U.S. trading partners remains weak and the Federal Reserve has cautioned against expecting any significant improvement in the near term.

While the U.S. trade deficit with China improved slightly from the record set in October, the bilateral gap with Japan was the highest since October 2000 and deficits with Canada, Russia and South Korea set records in November.

12-Jan-2005 - Reuters

Main Cities in China Travel and China Hotels

Beijing Hotels China Guangzhou Hotels China Shanghai Hotels China Hongkong Hotels China Qingdao Hotels China Hangzhou Hotels China
Beijing Canton Shanghai Hong Kong Qingdao Hangzhou



Search China Hotels China Hotels:
Please Select a City:
Find Your Hotel With China Map
Check-in:
Show Calendar
Check-out:
Show Calendar
Currency Adults Child

Search China Flight Ticket China Flight:
One Way Round-Trip
Departure city:
Destination:
Departure date:
Return date:




China Hotels info

Beijing Hotels, Shanghai Hotels
Guangzhou Hotels, Shenzhen Hotels
Hangzhou Hotels, Yiwu Hotels

China Travel info

Embassies and Consulates
China Health
China Currency
China Visa

China Tourist info

China Itineraries
Traditional Holidays
What to see in China
Weather in China

China Business info

Fairs and exhibitions
Shanghai Expo.
Canton Fair, Yiwu Fair
Institutional offices
China investment guide
Doing business in China

China Vacation info

China Map
China Travel Tourism News
Harbin Ice Lantern Festival
Hotels Reservation

China Province:

Hubei, Inner Mongolia
Jiangxi, Shaanxi, Tibet

China Cities:
China Introduction
Beijing Travel Info
Changchun Travel Info
Changsha Travel Info
Chengde Travel Info
Chengdu Travel Info
Chongqing Travel Info
Dali Travel Info
Dunhuang Travel Info
Guilin Travel Info
Haikou Travel Info
Hangzhou Travel Info
Harbin Travel Info
Nanning Travel Info
Ningbo Travel Info
Qingdao Travel Info
Shanghai Travel Info
Shenyang Travel Info
Shenzhen Travel Info
Suzhou Travel Info
Taian Travel Info
Tianjin Travel Info
Weihai Travel Info
Wuyishan Travel Info
Xiamen Travel Info
Xian Travel Info
Yangzhou Travel Info
Zhuhai Travel Info


 
| Home | Hotels | Hotels Video | China Flights | Flights Schedule | Pickup Service | Travel Packages | Affiliate | Add your hotels | Interprete Italiano-Cinese | Contact | Site Map | Link | FAQ | About Us
Copyright © 2001-2025 China Hotels Reservation - All Rights Reserved
Europe Office: ChinaHotelsReservation- Via Gerolamo Forni 64 - 20161 Milano - Fax 0291390522
China Office: China Travel(Hualv) Business co.,Ltd. - Tel 0086-577-88555070 Fax 0086-577-88522570
Xishan Donglu Xicen Gongyu 7 Zhuang 802 - 325005 Wenzhou China