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Trade gap widens in 2005.(HEADLINE)(Brief article)
The U.S. goods and services deficit widened in 2005, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased $108.2 billion from $617.6 billion in 2004 to $725.8 billion in 2005, as imports increased nearly twice as much as exports. As a percentage of U.S. gross domestic product, the goods and services deficit increased from 5.3 percent in 2004 to 5.8 percent in 2005.
Exports of goods and services increased $119.7 billion in 2005 to $1,271.1 billion. Goods exports increased $85.0 billion and services exports increased $34.7 billion.
* The Largest increases in goods exports were in capital goods, industrial supplies and materials, and consumer goods.
* The largest increases in services exports were in other private services, travel, and royalties and license fees.
Imports of goods and services increased $227.8 billion in 2005 to $1,996.9 billion. Goods imports increased $201.7 billion and services imports increased $26.1 billion.
* The largest increases in goods imports were in ...
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- Newspaper article from: IPR Strategic Business Information Database February 20, 2006 700+ words
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