By: Shannon O’Brien
In September, the Nation’s international trade deficit in goods and services increased to $41.8 as exports decreased and imports increased. Exports decreased to $188.9 billion in September led by a $1.3 billion decrease in industrial supplies and materials. Imports grew $2.7 billion to $230.7 billion in part due to record high increases in automotive vehicles, parts, and engines ($27.1 billion). Notably September also recorded the highest on record deficit with China ($30.5 billion) partially due to holiday related imports as discussed below.
Holiday Related Imports
As we enter into the most wonderful time of the year, demand for seasonal decorations can be seen with holiday commodity trade around the world.
This month alone we have imported artificial Christmas trees of $53.1 million and lighting sets of $187.4 million. China was the leading foreign source of Christmas trees in September making up $52.6 million of the $53.1 million world total imports to the United States.
Through 2013 year-to-date, we have imported a total of $95.8 million of Christmas trees and $349.6 million of Christmas lighting sets. Both Christmas trees and lighting sets are the lowest since the 2010 holiday season when imports of Christmas trees were $73.3 million and lighting sets were $256.8 million.
While there is still time to deck the halls, from all of us here in Foreign Trade, Happy Holidays to all!
You can obtain this data and more by going to USA Trade Online.