With oil exporters Venezuela and Mexico leading, Latin America and the Caribbean posted a US$ 100.8 billion trade surplus with the United States in 2005, up 32.2% percent from the previous year, reported Friday, February 10, the U.S. Department of Commerce.
Latin America and the Caribbean accounted for 17.5% of all goods and services imported by the United States, up slightly from its 17% share of 2004. But the region accounted for a significantly lower percentage of U.S. exports, 13.2%, compared to 21% in 2005.
Venezuela’s trade surplus with the United States rose to US$ 27.6 billion last year, compared with US$ 20.2 billion in 2004. Mexico jumped to a US$ 50.1 billion surplus in 2005 from US$ 45 billion the previous year.
Brazil’s trade surplus in 2005 was up almost US$ 2 billion to US$ 9.1 billion, and Argentina posted US$ 472 million surplus compared with US$ 357 million in 2004.
The United States 2005 overall trade deficit was US$ 725.8 billion in 2005, almost 18% more than in 2004. While exports have climbed, they have struggled to keep up as record oil prices, strong consumer demand and cheap foreign goods boosted imports.
In December, US exports rose by 2.1% to US$ 111.5 billion, as imports increased by 1.9% to US$ 177.2 billion with the deficit reaching US$ 65.7 billion up from November’s US$ 64.7 billion.
The trade gap with China jumped 25% to a record US$ 201.6 billion.
Mercopress – www.mercopress.com
