The south Asian economy's imports also showed signs of moderation, further helping close the trade gap.
The latest indications are that the overall trade gap is likely to shrink this year.
The U.S. trade gap with the world's second-largest economy hit another record high last year.
Question for each: If weak dollars are advantageous, why does the trade gap grow?
After falling in 1996, the trade gap between America and Japan is now rising rapidly again.
Much of Germany's second-quarter GDP growth came from trade, even as a wider trade gap sapped America's economy.
In the long run, a slowdown in the US economy will reduce the trade gap by reducing imports.
The US wants China to move towards a more consumer-led economy, narrowing the trade gap between the two countries.
Indeed America's export growth has been much stronger (a sudden surge in imports was behind the second-quarter trade gap).
Over the same period, employment, manufacturing, and the stock market all also increased the fastest alongside a widening trade gap.
One cannot argue with Hurricane Sandy, hopefully a once-in-a-lifetime anomaly, and perhaps other fundamental factors such as a wider trade gap.
Despite what many Americans would like to believe, America's trade gap is not simply an expression of its faster growth rate.
Our trade gap has widened almost every year since Labour took office.
China now accounts for most of the U.S. trade gap in manufactured goods, and it competes against U.S. companies in virtually every product category.
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India's current-account deficit is driven mainly by a perennial trade gap.
Earlier last week, U.S. Treasury Secretary Timothy Geithner said that China needed to do more to address the trade gap and U.S. complaints about an undervalued Chinese currency.
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In fact, the trade gap with China continues to rise.
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Some U.S. lawmakers, for instance, argue China needs to let its currency rise significantly against the U.S. dollar in order to reduce the trade gap between the two nations.
It is a priority because the EU has a huge bill for oil and gas imports from outside Europe - bigger even than the EU's manufacturing trade gap with China, he says.
He predicted the technology boom, ignored all the sturm und drang of the late 1990s, with its Y2K panics and trade gap anxieties, and then he perfectly analyzed and timed the technology crash.
Fisher and I agree that the trade gap and the budget deficit are positives for stocks: the bigger the better. (Americans hold far too little debt, and anything that increases it is a plus.) He also celebrates the supply-side tax cuts, though he deems a negative for stocks the currently little noticed all-government budgetary surplus caused by the tax rate reductions.
Since it takes time for exchange-rate changes to affect trade, the gap is likely to widen further: the full impact of the dollar's rise over the past two years has yet to be felt.
It's in the interest of even the most annoying "all-rounder" (as we say in India), who is better than me at everything, to specialize in those tasks in which our gap is the biggest and trade with me for those in which our gap is smaller.
Because of that gap in trade, China ends up with about a billion new U.S. dollars every day.
Qualcomm (NASDAQ:QCOM) has a nice earnings gap to trade against.
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Trade unions are also calling for the gap between nurses' pay and that of teachers and police officers to be closed.
This creates a lag between incurring costs and receiving revenues, a gap bridged by short-term trade-finance loans.
Attempting to retard this positive evolutionary process by stop-gap measures such as the present trade agreement with a reconfigured union will probably only result in increased estrangement and desperation on the part of the most independent republics.
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