US TRADE GAP NARROWS

The United States trade deficit shrank in the second quarter to its lowest level in 6-1/2 years, the Commerce Department reported Aug. 28. The total deficit on trade with the rest of the world fell from $26.3 billion in the first three months of 1990 to $22.6 billion. The 14 percent drop was aided by cheap imported oil prior to Iraq's invasion of Kuwait. The Commerce Department said average imported oil prices fell during the second quarter to $15.81 a barrel from $19.47 in the first quarter of 1990 - a price level that is unlikely to be repeated.

Second-quarter exports reached a record $96.7 billion.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK