WASHINGTON—The U.S. rubber product trade deficit grew 3.5 percent in November, with the shortfall still on pace to be up for the full year.
The deficit was $978.5 million in November, compared with $945.8 million a year earlier, according to Commerce Department data. Through 11 months, the shortfall grew 2.9 percent to $11.5 billion.
Trade activity was lower on the month, as exports fell 6 percent from November 2014 to $811 million, with imports down 1.1 percent to $1.79 billion. For the year to date, exports declined 6.7 percent and imports were off 1.7 percent.
For individual product categories:
c The deficit for tires and related products dipped 3.5 percent to $721.8 million in November, but was up just 0.4 percent on the year to $8.3 billion;
c The trade shortfall for hose and tubing jumped 28.1 percent to $30.4 million on the month, but actually decreased 16.1 percent to $288.6 million for the first 11 months of 2015;
c The belting trade deficit declined 37.1 percent in November to $10.7 million and was down 14.3 percent year to date to $159.1 million; and
c The shortfall for miscellaneous hard rubber goods climbed 22.1 percent to $71.3 million in November and 17.8 percent for the year to $1.02 billion.
On the supply side, the surplus for the month dropped 16.8 percent but was up 35.2 percent year to date.