US exports hit a record high in July

[pampango]

Source: BBC

US exports hit a record high in July, pushing the country's trade deficit down to its lowest level in three months, official figures have shown.

Led by strong overseas sales of manufactured goods, US exports rose 3.8% to $178bn (£111bn), said the Commerce Department.

At the same time, imports fell 0.2% to $222.8bn, helped by a fall in the price of oil reducing the cost of the US's crude imports.

The trade gap fell 13.1% to $44.8bn.

Read more: http://www.bbc.co.uk/news/business-14841506

[dmallind]

1. bb..bb...but we don't make anything any more!

Strange that it takes the BBC to tell us we are still a manufacturing powerhouse.

[FreakinDJ]

2. If you only knew what you were talking about

They count intellectual property rights as "Exports" in America now.

That and if you knew 60% of ALL trade Globally, are intra-corporation transfers to enable Transfer-Pricing / Tax Avoidance Schemes, you might soon start to "Get it". Sorry to be so crass but this is the reason we have a "No Jobs Recovery"

[fasttense]

3. You are correct AND adding insult to injury, they count natural resources as part of those exports

So, all the old growth and new growth trees cut down in California, Oregon and Washington that are shipped to Japan and China are counted as exports. All our trash that we ship to other countries to process out minerals and metals are also included.

It's all a numbers game to make the intolerable look merely annoying.

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.

[pampango]

6. From Commerce: Increased exports from 1) industrial materials, 2) capital goods, 3) automotive.

The June to July increase in exports of goods reflected increases in industrial supplies and materials ($2.7 billion); capital goods ($2.2 billion); automotive vehicles, parts, and engines ($1.3 billion); and other goods ($0.2 billion). A decrease occurred in consumer goods ($0.6 billion). Foods, feeds, and beverages were virtually unchanged.

In July, the goods deficit decreased $6.4 billion from June to $60.6 billion, and the services surplus increased $0.4 billion to $15.8 billion. Exports of goods increased $5.7 billion to $126.9 billion, and imports of goods decreased $0.7 billion to $187.5 billion. Exports of services increased $0.5 billion to $51.1 billion, and imports of services increased $0.1 billion to $35.3 billion.

http://www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf

[valerief]

4. Our top export? JOBS! nt