Nov 17, 2004
| Last Updated
Recent headlines touting the latest upswing in the monthly trade deficit have underscored the size of the United States trade deficit. A trade deficit of around $420 billion in 2003 became a deficit of roughly $500 billion in 2003 and is on track to reach $600 billion in 2004. If oil prices stay high and U.S. growth does not falter, the trade deficit will be even larger in 2005 - likely well above $650 billion. Imports are currently growing slightly faster than exports. Yet even if imports grew at the same pace as[...]
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