WASHINGTON—The U.S. rubber product trade deficit kept increasing in October, as the rate of trade activity picked up.
The shortfall for the month rose 13.9 percent to $1.04 billion, with imports again more than doubling exports. Imports during October increased 8.5 percent to $2.04 billion, with exports climbing 3.5 percent to just more than $1 billion.
Through 10 months of 2014, the deficit was up 6.7 percent to $10.2 billion. Exports gained 2.7 months year to date, with imports rising 4.7 percent.
For the most part, the individual rubber product categories mirrored the overall totals, with higher deficits. Those included:
c Tires and related products, shortfall for October up 9.1 percent on the month to $733.1 million, with the year to date deficit increasing 4.8 percent to $7.56 billion;
c Belting deficit on the month gaining 27.4 percent to $24.1 million, with the shortfall rising 15.9 percent to $168.7 million through 10 months;
c Hose and tubing shortfall jumping 11.8 percent to $35.2 million in October and 44.4 percent on the year to $320.2 million; and
c The deficit for miscellaneous hard rubber goods up 18.1 percent for the month to $77.2 million and 2.6 percent year to date to $809.3 million.
On the supply side, the trade surplus for October jumped 43.6 percent to $123.5 million, with the surplus up 40.5 percent for the first 10 months of 2014.