Trade Deficit Falls

By: AP Email
By: AP Email

Washington (AP) The broadest measure of foreign trade declined in 2007 as stronger growth in U.S. Exports offset a soaring foreign oil bill.

The Commerce Department reported Monday that the deficit in the current account dropped by 9 percent last year to $738.6 billion. That represented a decline from an all-time high of $811.5 billion dollars.

The current account is the broadest measure of trade because it covers not only goods and services but also investment flows between the United States and other countries. It also represents the amount of dollars flowing into foreign hands to finance the country's overall trade deficit.


KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 16753496