U.S. Imports from Russia up 79% yy despite crises in Ukraine

June 5, 2014 - PRLog -- The U.S. trade gap widened in April, on the decline in exports and growth in imports.
U.S. trade gap grew in double digits in April by 17 % to a rate at $47.2 billion. The widening trade gap will subtract from the GDP growth, due to shrinking exports, increasing oil imports may signal healthy economic activity, but they also widen the trade deficit, as the trade gap subtracts from the GDP growth, economists noted.

Nevertheless, increase in imports of energy-related products, is a concern, particularly when we know that the latest surge in the cost of imported oil will drive the deficit further over the next few months.

Imports from China, meanwhile, climbed to $36.3 billion in April from $31.2 billion in March. The trade deficit with the rising Asian giant increased $6.88 billion to $-27.3 billion in April. Country data are not seasonally adjusted.

Lawmakers and some business executives say China keeps its currency artifically low to boosts its exports.

In April Imports have climbed by 2.69 % to $240.6 billion, reported by the Commerce Department, led by growing imports of Cars, parts, engines as the availability of new models improved and Passenger Fares. Imports of Nuclear Technology also went up, by 69.43 % to $0.27 billions and Travel services fell also -90.96 %. U.S. Imports of Advanced Materials also declined, by -8.02 % to $0.17 billions.

The combination of acceleration in stockpiling activity to meet stronger domestic demand and the price effect from higher commodity prices led to the stronger growth in imports.

Imports of petroleum increased by $1.05 billion, to $29.3 billion in April. The average price of imported oil jumped by $1.57 to $95.5 a barrel. The U.S. imported 8 million barrels a day in April, up from 7.3 million in the prior month. U.S. Imports of services grew by 3.23 %, whats more important purcheses of foreign made products, which accounted for 83.5 %, of total imports, rose by 2.58 %.

Higher petroleum consumption in the U.S., has resulted in higher imports from OPEC Countries, such as Saudi Arabia and Venezuela.
Imports from europe increased, as trade with Ireland grew 25.24 %, but imports of oil from Norway fell.
Imports from Mexico and Canada where lower in April.
Pacific Rim Region has seen increasing demand from the U.S., as imports from Singapore grew the most, while the demand for goods from Hong Kong fell.

From April 2013, U.S. trade gap jumped by 17.2 %, due to 5.66 % increase in imports.

In April exports fell by -0.29 %, the largest decline came from exports of Foods, feeds, and beverages, Royalties and License Fees. Exports of Weapons fell as well, by -70.75 % to $0.09 billions. Bucking the overall trend, exports of miscellaneous other goods and , grew. Exports of Nuclear Technology also went up, by 53.19 % to $0.07 billions.
Economists are concerned that slowing demand from Europe may dampen U.S. export growth. Exports of services have declined by -0.98 %, services accounted for 30.1 %, of total exports in April. Exports of goods, rose by 0.01 %.

Demand for U.S. made goods fell in Brazil, Colombia and overall South and Central America.
Exports to europe fell, as exports to Hungary decline the most, down, but trade with Austria grew by 186.76 %.
Sales of U.S. made goods, improved in the Pacific Rim Region, as exports to Singapore grew the most and despite the decrease in demand for U.S. made goods, from Hong Kong.

http://csimarket.com/economy/US_International_Trade_in_Go...