Trade Gap Narrows
Jan. 10, 2007 -- Cheaper imported oil and increased exports helped shrink the nation's trade deficit in November by 1 percent to $58.2 billion, the Commerce Department reported on Wednesday.
Despite declines over the past three months, the trade deficit rose 7.5 percent on a year-on-year basis, with imports from China alone outweighing exports last year by more than $200 billion, the report said.
In November, U.S. exports were led by a 15.7 percent increase in civilian aircraft, while agricultural goods fell by 3.7 percent, the report said.
At the same time, growth in U.S. imports was led by a greater demand for toys and televisions.
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