Imports and exports for August - September numbers will be out this week:

1. Imports
Aug 2007 - $171,923,000,000 - petroleum $21,647,863,000 or 12.6%, 317,528,000 barrels, $68.19 per barrel
Aug 2008 - $190,658,000,000 - petroleum $37,122,533,000 or 19.5%, 309,736,000 barrels, $119.85 per barrel
Aug 2009 - $131,516,000,000 - petroleum $17,819,869,000 or 14.7%, 268,429,000 barrels, or $66.39 per barrel.

So, our import drop of $59,142,000,000 off last year is only $19,302,664,000 because of petroleum differentials, and a significant part of that differential is caused by a drop in consumption as the distillates demand shrinks. $39 billion was because of other products!!

BUT! This is not the bad news!

2. EXPORTS
Aug 2007 - $98,995,000,000
Aug 2008 - $ 115,202,000,000
Aug 2009 - $86,650,000,000

Considering the DOLLAR is 39% weaker than February, you would think that exports would have a chance at increasing, but they are WAY OFF TWO YEARS AGO! The ONLY reason the trade deficit swung lower is LOWER CONSUMPTION!!!

irish.

Related Posts:

• Japan’s November trade deficit widens as exports slump
• Only reason the deficit is down is that CONSUMPTION is DOWN as the ECONOMY is DOWN:
• Consumer confidence continues low, despite how much the market has rallied.
• The petroleum reports show that the economy is once again worsening, and the pace is accelerating.
• Listen Carefully: RIDE the next bubble, don’t be a victim

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