UnidoRecruitingNATIONAL

  • Subscribe to our RSS feed.
  • Twitter
  • StumbleUpon
  • Reddit
  • Facebook
  • Digg

Wednesday, 7 August 2013

The Declining Trade Deficit: Not As Rosy As You Would Think

Posted on 12:47 by Unknown
The trade deficit numbers are out for June 2013 and have been very positive. Due to an oil boom, the trade deficit shrank 22% from around $44 billion in January 2013 to $34 billion in June 2013.

As you can see on Chart 1, the decrease in deficit was due to an increase in exports (red chart) and a decrease in imports (blue chart). This looks very promising, but I want to show that not all is well if you look into the details.

Chart 1: Import Vs. Export
Let's look deeper into these import and export numbers. Chart 2 gives the breakdown of the export numbers. The largest segments are "machinery and transport equipment", "chemicals and related products" "mineral fuels and lubricants" and "re-exports".

Chart 2: Exports January 2013
Chart 3 gives the breakdown of the import numbers. The largest segments are 'machinery and transport equipment", "mineral fuels and lubricants", "miscellaneous manufactured articles".
Chart 3: Imports January 2013
From these numbers we can deduct that the oil industry is indeed a very important segment that will influence the import and export numbers.

If we then further look at how these numbers evolve in time from January 2013 till June 2013 we have charts 4 and 5.

Chart 4: Exports (billion USD)
Chart 5: Imports (billion USD)
When analyzing the trends on charts 4 and 5, there is one segment that is worth noting. We see that exports of petroleum products (which are incorporated in the segment "mineral fuels and lubricants") have been going up, while imports of the same have been going down. The reason for this can be found in the divergence of West Texas Intermediate (WTI) crude oil and Brent crude oil.

To continue reading this analysis: go here.
Email ThisBlogThis!Share to XShare to FacebookShare to Pinterest
Posted in arbitrage, boom, brent, crude, deficit, export, import, Mastercard, oil, rate, Savings, trade, Visa, WTI | No comments
Newer Post Older Post Home

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Popular Posts

  • The Current Status on Precious Metals
    Let's do a quick analysis on precious metals here. First off, I said yesterday that China lost interest in gold during the past months i...
  • J.P. Morgan Converts Almost Half of Eligible Gold to Registered Gold
    I couldn't believe my eyes when I saw this. Suddenly we saw the J.P. Morgan vault get almost half of the eligible gold converted into re...
  • Silver Inventories at CME and Lease Rates
    Just a few weeks after I turned bullish on silver , articles are sprouting out of nowhere about silver inventories being historically low . ...
  • China May 2012 Gold Imports from Hong Kong Still in an Uptrend
    A little update on China's gold imports from Hong Kong. For May 2012, China imported 75.6 metric tons from Hong Kong . Pretty disappoint...
  • China Construction Bank to Buy European Bank: RBS or Commerzbank?
    On 16 September 2012, China Construction Bank  (CCB) announced that it would use up to $15 billion dollars to buy a stake (30%-50% stake or ...
  • No U.S. Deficit in December 2012
    The U.S. has done a good job in the month of December 2012. Its outlays of $270 billion were fully absorbed by receipts of $270 billion whic...
  • Premiums on silver skyrocket
    With the 10% smackdown of silver today, the premiums on junk silver skyrocketed to 25% (Chart 1). The disconnect between the physical market...
  • The Declining Trade Deficit: Not As Rosy As You Would Think
    The trade deficit numbers are out for June 2013 and have been very positive. Due to an oil boom, the trade deficit shrank 22% from around $4...
  • Denmark: Negative Interest Rates
    It's amazing that central banks actually started to send key interest rates below 0%. Denmark just put the key interest rate to -0.2%.  ...
  • How to calculate profit on government bonds? Case Study on Belgian Bonds
    A couple months ago, Belgium sold government bonds to the public . For example 10 year bonds at 5%. I'm living in Belgium, so I took thi...

Categories

  • 10 (1)
  • 10 year treasuries (1)
  • 1987 (1)
  • 2012 (7)
  • 30 (1)
  • account (1)
  • acquisitions (1)
  • adjustable (1)
  • ADP (1)
  • Advantage (1)
  • aggregates (2)
  • AGQ (1)
  • agriculture (1)
  • Akamai Technologies (1)
  • alert (1)
  • Alex Jones (1)
  • Allan Meltzer (1)
  • Allana (1)
  • Allana Potash (1)
  • amber gold (1)
  • America (1)
  • and (2)
  • Angela (1)
  • APMEX (5)
  • applications (1)
  • April 2012 (1)
  • arbitrage (2)
  • Arthur (1)
  • asia (2)
  • Asian (1)
  • At. Augustine Gold (1)
  • Atlantic Economy Summit (1)
  • AUD (1)
  • Australian dollar (1)
  • automotive (2)
  • average (3)
  • Avino (1)
  • bac (2)
  • backing (1)
  • backwardation (6)
  • balance (8)
  • balance sheet (3)
  • Baltic (1)
  • Baltic Dry Index (1)
  • Bank (10)
  • Bank of America (1)
  • Bankrupt (1)
  • bankruptcy (2)
  • banks (3)
  • bar (1)
  • Barclays (1)
  • Bargain (1)
  • Barrick Gold (1)
  • base (1)
  • base money (1)
  • Bass (1)
  • BCS (1)
  • beleggerscompetitie (4)
  • Belgium (10)
  • Ben (3)
  • Ben Bernanke (4)
  • Bernanke (4)
  • Bernstein (1)
  • BHP (1)
  • bitcoin (8)
  • blog (1)
  • BNP (1)
  • bond (14)
  • bond yields (1)
  • bonds (33)
  • boom (1)
  • Brad Cooke (1)
  • Brazil (1)
  • brent (2)
  • Brink's (2)
  • brother (1)
  • BrotherJohnF (1)
  • bubble (2)
  • budget (2)
  • Budget Deficit (1)
  • Buffett (2)
  • building (2)
  • bullion (1)
  • bullish (1)
  • buyback (1)
  • buying (1)
  • c (1)
  • calculation (2)
  • Cambridge (1)
  • Canada (1)
  • Capacity (8)
  • Capacity Utilization (7)
  • Capesize (1)
  • capita (1)
  • Capstone Mining (1)
  • car crash (1)
  • Case-Shiller (1)
  • Casey (1)
  • Cash is Trash (1)
  • cattle (1)
  • ceiling (4)
  • celente (2)
  • cement (1)
  • central (2)
  • CFTC (3)
  • Chaudhary (1)
  • Chicago (2)
  • China (48)
  • China Construction Bank (1)
  • CHK (1)
  • chocolate (1)
  • Citigroup (2)
  • city (1)
  • claims (3)
  • CLF (1)
  • cliff (3)
  • CME (11)
  • cnbc (2)
  • CNT depository (1)
  • coal (2)
  • cocoa (1)
  • COFER (2)
  • coffee (1)
  • comedy (1)
  • COMEX (33)
  • commercial (1)
  • Commerzbank (1)
  • commodities (4)
  • commodity (1)
  • competition (1)
  • composition (1)
  • Conan (1)
  • Conference (2)
  • congress (1)
  • consumer (4)
  • consumption (2)
  • Contango (26)
  • contraction (1)
  • convention (1)
  • copper (34)
  • copper contango (1)
  • corn (2)
  • Corp (1)
  • correlation (54)
  • correlations (7)
  • cost (5)
  • costs (1)
  • COT (4)
  • cotton (1)
  • council (1)
  • country (2)
  • county (1)
  • cover (1)
  • CPI (5)
  • crash (2)
  • CRB (3)
  • credit (2)
  • Credit Agricole (1)
  • Croatia (1)
  • crude (3)
  • currency (3)
  • current (1)
  • curve (1)
  • Cut (1)
  • Cyprus (7)
  • Da (1)
  • daily (1)
  • Dan Norcini (1)
  • David (1)
  • David Morgan (2)
  • DB (1)
  • de-peg (1)
  • Debt (30)
  • debt ceiling (2)
  • debt limit (1)
  • December (1)
  • decoupling (7)
  • default (4)
  • deficit (7)
  • deflation (2)
  • delivery (1)
  • Demand (6)
  • Denmark (2)
  • Denninger (1)
  • deposit (8)
  • deposit facility (1)
  • deposits (3)
  • diamond (1)
  • Discouraged (1)
  • disposable (1)
  • dividend (1)
  • DJP (1)
  • DNC (1)
  • dollar (2)
  • domestic (1)
  • Doug (1)
  • Dow (7)
  • drop (1)
  • Dry (1)
  • durable (1)
  • dwcf (1)
  • earnings (4)
  • earnings per share (1)
  • ECB (6)
  • economy (1)
  • Ecuador (1)
  • elections (1)
  • electricity (2)
  • eligible (2)
  • Embry (1)
  • Employment (1)
  • Endeavour (1)
  • Endeavour Silver (2)
  • Engelhard (1)
  • eps (3)
  • equities (3)
  • equity (1)
  • equity markets (1)
  • Eric (6)
  • Eric Sprott (1)
  • estate (2)
  • estimate (1)
  • ETF (3)
  • Ethiopia (1)
  • Ethiopian Potash (1)
  • eur (1)
  • Eureka (1)
  • Euribor (2)
  • euro (8)
  • Europe (7)
  • European Union (1)
  • Eurozone (1)
  • exchange (1)
  • EXK (1)
  • expansion (1)
  • experiment (4)
  • exploration (1)
  • export (1)
  • exports (1)
  • Exposure (1)
  • external (1)
  • Faber (3)
  • family (1)
  • Faustian (1)
  • fed (2)
  • federal (10)
  • federal reserve (3)
  • Fertilizer (1)
  • Financial Services Committee (1)
  • First (3)
  • First Majestic Silver Corp. (1)
  • fiscal (3)
  • fiscal cliff (1)
  • fixed (1)
  • food stamps (1)
  • food stamps hire people (1)
  • foreigners (4)
  • forex (1)
  • Forum (1)
  • forward (1)
  • franc (1)
  • France (3)
  • Fraser (1)
  • French (1)
  • fund (1)
  • funds (3)
  • gas (1)
  • Gazprom (1)
  • gdp (25)
  • George Soros (1)
  • Germany (3)
  • gld (3)
  • GNP (1)
  • GOFO (4)
  • Gold (130)
  • gold money index (1)
  • golden cross (1)
  • Goldman (1)
  • Goldman Sachs (2)
  • goldonomic (1)
  • goods (1)
  • got gold report (1)
  • government (2)
  • great (1)
  • Great Depression (2)
  • Greece (8)
  • Greg (1)
  • gross (1)
  • growth (1)
  • GS (1)
  • GSK (1)
  • Hampshire (1)
  • Hang Seng (1)
  • Happy New Year (1)
  • Hedge (1)
  • Hewlett Packard (1)
  • Hitler (1)
  • HMI (1)
  • holding (1)
  • holdings (4)
  • Hole (1)
  • Hollande (4)
  • home (1)
  • hong (7)
  • Hong Kong (11)
  • hour (4)
  • hourly (3)
  • Housing (8)
  • housing market index (1)
  • HSBC (1)
  • Hunter (1)
  • Hyperinflation (3)
  • IMF (1)
  • import (14)
  • imports (16)
  • income (1)
  • index (13)
  • India (1)
  • industrial (2)
  • industry (1)
  • inflatiion (1)
  • inflation (11)
  • iniflation (1)
  • initial (3)
  • initial claims (1)
  • initiative (1)
  • Insider (1)
  • insider trading (1)
  • institute (1)
  • interconnectivity (1)
  • Interest (9)
  • interest payment (1)
  • Interest Rates (1)
  • inventory (1)
  • investment (2)
  • Investor (1)
  • Iran (4)
  • Ireland (1)
  • Iron (2)
  • Iron ore (2)
  • Irwin (1)
  • Israel (2)
  • Italy (4)
  • J.P. Morgan (7)
  • J.P. Morgan Chase (1)
  • Jackson (1)
  • James (5)
  • James Turk (2)
  • Japan (10)
  • jesse jackson (1)
  • Jim (1)
  • Jim Rogers (1)
  • Jim Sinclair (1)
  • JNJ (1)
  • job cuts (1)
  • jobless (2)
  • John (3)
  • John Davis (1)
  • Jones (2)
  • JP Morgan (1)
  • jpm (1)
  • July (1)
  • June (2)
  • junk (3)
  • Karl (1)
  • keiser (2)
  • king world news (1)
  • Kohler (1)
  • kong (7)
  • KWN (2)
  • Kyle (1)
  • Kyle Bass (1)
  • laptop (1)
  • large commercial (1)
  • Las (1)
  • LBMA (3)
  • LCNS (9)
  • Lease (8)
  • Lease rate (3)
  • lease rates (2)
  • Lecture (1)
  • lending (1)
  • leverage (1)
  • Liberty (1)
  • LIBOR (3)
  • Lloyds (1)
  • LME (3)
  • Loans (1)
  • london (2)
  • long (1)
  • LTRO (3)
  • lumber (1)
  • M0 (1)
  • M1 (1)
  • M2 (1)
  • M3 (2)
  • Majestic (3)
  • Maloney (1)
  • manager (1)
  • manipulation (1)
  • Marc (3)
  • Marc Faber (11)
  • March (1)
  • margin (1)
  • marginal (4)
  • market (5)
  • Mastercard (1)
  • maturity (2)
  • Mauldin (1)
  • max (2)
  • max keiser (3)
  • May (1)
  • MBS (5)
  • Melvin (1)
  • merger (1)
  • Merkel (1)
  • metal (1)
  • metals (7)
  • Metdist (1)
  • MF global (1)
  • Michael (2)
  • Middle East (1)
  • Mike (1)
  • Mike Maloney (2)
  • miners (2)
  • mines (1)
  • Mining (4)
  • minister (1)
  • Mint (1)
  • monetary (1)
  • money (4)
  • Moneyshow (1)
  • monitoring (1)
  • Monitoring of decoupling (1)
  • Morgan (1)
  • Morgan Stanley (1)
  • mortgage (6)
  • Moustache (1)
  • moving average (1)
  • MZM (3)
  • natural (1)
  • Natural gas (3)
  • Neeraj (1)
  • Negative (3)
  • net (4)
  • Netherlands (2)
  • New (1)
  • News (1)
  • nickel (1)
  • Noel (1)
  • Nomura (2)
  • non farm payroll (1)
  • non-farm payroll (1)
  • NOS (1)
  • Novartis (1)
  • O'Brien (1)
  • obesity (1)
  • Occupy (1)
  • Offering (1)
  • oil (9)
  • oil embargo (1)
  • Okun (1)
  • olivut resources (1)
  • OLV (1)
  • Onion (1)
  • open (3)
  • orders (1)
  • ore (1)
  • outflow (1)
  • outlay (4)
  • outlays (1)
  • overnight (1)
  • P/B (1)
  • P/E (2)
  • palladium (4)
  • Pan American Silver (1)
  • Panamax (1)
  • paper (1)
  • Paulson (1)
  • payment (1)
  • payroll (3)
  • pegging (1)
  • pending (1)
  • Pentagon (1)
  • Pento (2)
  • permit (2)
  • personal (1)
  • Peter (13)
  • Peter Schiff (13)
  • petition (1)
  • Pfizer (1)
  • pharmaceutical (1)
  • phys (1)
  • physical (2)
  • piano (1)
  • PIIGS (6)
  • platinum (7)
  • PMI (11)
  • Ponzi (1)
  • Poor's (2)
  • population (1)
  • Portugal (3)
  • positions (3)
  • Potash (1)
  • Potemkin (1)
  • PPLT (1)
  • precious (4)
  • premium (25)
  • president (1)
  • Price (16)
  • private (1)
  • product (1)
  • production (7)
  • profit (1)
  • PSLV (5)
  • public (3)
  • purchasing (1)
  • QE (1)
  • QE3 (6)
  • radio (1)
  • rally (2)
  • rate (27)
  • rates (2)
  • ratio (11)
  • RBS (1)
  • real (4)
  • Real estate (4)
  • receipt (1)
  • recession (1)
  • recycling (1)
  • red (1)
  • referendum (1)
  • regions (1)
  • registered (3)
  • registered gold (1)
  • repatriation (1)
  • report (4)
  • requirement (1)
  • reserve (12)
  • reserve currency (1)
  • reserve requirement (1)
  • reserves (3)
  • Resource (1)
  • revenue (2)
  • revision (1)
  • revisions (1)
  • Rhodium (1)
  • Rickards (1)
  • RJA (1)
  • RMB (1)
  • Road (1)
  • Roche (1)
  • Royal Canadian Mint (1)
  • run (1)
  • Russia (2)
  • Sachs (1)
  • sales (1)
  • SAU (1)
  • Saudi Arabia (1)
  • Savings (5)
  • scheme (1)
  • Schiff (13)
  • Scott Minerd (1)
  • scrap (3)
  • second quarter (1)
  • sector (1)
  • securities (1)
  • Seminar (1)
  • sentiment (2)
  • SGS (1)
  • Shanghai (15)
  • share (1)
  • sheet (7)
  • SHIBOR (1)
  • short (6)
  • short positions (1)
  • shortage (2)
  • shorting (1)
  • Show (1)
  • Silva (1)
  • silver (90)
  • Silver glitch (1)
  • Silver Lake Resources (1)
  • Singapore (1)
  • single (1)
  • Sipef (1)
  • slv (3)
  • Societe general (1)
  • Soros (1)
  • soybean (1)
  • soybeans (1)
  • Spain (4)
  • Spain unemployment (1)
  • SpainC (1)
  • Spanish (1)
  • SPDR (1)
  • spending (2)
  • Spiegel (1)
  • SPPP (2)
  • SPR (1)
  • spread (1)
  • Sprott (14)
  • stand (1)
  • standard (3)
  • Standard and Poor's (5)
  • starts (1)
  • stimulus (2)
  • stock (19)
  • stocks (2)
  • strategic petroleum reserve (1)
  • Street (1)
  • stress (1)
  • Student (1)
  • sugar (1)
  • supply (5)
  • Supramax (1)
  • surplus (1)
  • surprise (1)
  • Swaps (1)
  • Swiss (2)
  • Switzerland (4)
  • takeover (1)
  • target (1)
  • tax (8)
  • taxation (1)
  • taxes (1)
  • Tekoa (1)
  • test (1)
  • testify (1)
  • The Real Crash (1)
  • Theory (2)
  • TLT (1)
  • total (4)
  • trade (1)
  • trade deficit (1)
  • transport (1)
  • treasuries (18)
  • treasury (10)
  • treasury holdings (2)
  • trust (3)
  • turbo (1)
  • Turk (5)
  • U.S. (21)
  • U.S. debt (1)
  • U.S. dollar (1)
  • U.S. Mint (2)
  • U.S. treasuries (1)
  • U.S. treasury holdings (1)
  • U3 (1)
  • U6 (1)
  • unemployment (17)
  • Unemployment rate (1)
  • united states (1)
  • up (1)
  • US (7)
  • USA (1)
  • USD (8)
  • Utilization (8)
  • Valcambi (1)
  • valuation (1)
  • Vegas (1)
  • velocity (5)
  • Visa (1)
  • volatility (1)
  • wage (3)
  • wages (1)
  • Wall (1)
  • Wall Street Journal (1)
  • War (3)
  • warehouse (1)
  • Warren (2)
  • wedge (1)
  • Western Potash (1)
  • wheat (2)
  • worker (1)
  • world (1)
  • World Market Window (1)
  • wrap (1)
  • WTI (1)
  • Yahoo (1)
  • year (2)
  • yen (2)
  • Yeul (1)
  • yield (11)
  • yields (2)
  • yuan (1)
  • zero (6)
  • Zero Hour (2)
  • Zero Hour Debt (1)
  • zerohedge (2)
  • zinc (1)

Blog Archive

  • ▼  2013 (243)
    • ▼  August (7)
      • GLD trust gold inflow?
      • Peter Schiff: Stand-Up Comedian
      • Gold Lease Rate Higher, Registered COMEX Gold Lower
      • The Declining Trade Deficit: Not As Rosy As You Wo...
      • China Gold Imports from Hong Kong: Steady in June ...
      • Tax Receipts Vs. Savings Rate
      • Gold Backwardation Explained By James Turk
    • ►  July (14)
    • ►  June (34)
    • ►  May (23)
    • ►  April (53)
    • ►  March (36)
    • ►  February (33)
    • ►  January (43)
  • ►  2012 (257)
    • ►  December (42)
    • ►  November (26)
    • ►  October (30)
    • ►  September (20)
    • ►  August (25)
    • ►  July (32)
    • ►  June (30)
    • ►  May (29)
    • ►  April (23)
Powered by Blogger.

About Me

Unknown
View my complete profile