US latest data show rise in rubber product deficit

Washington —The US rubber product trade deficit grew 5.2 percent in November, though the total shortfall was less than $1 billion (€917 million) for one of the few times in 2014.

The deficit clocked in at $945.8 million, compared with $898.9 million a year earlier, according to US Department of Commerce data. Imports more than doubled exports in November, with imports at $1.81 billion and exports at $863.4 million.

Through the first 11 months of 2014, the rubber product trade deficit rose 6.6 percent to $11.2 billion. Imports climbed 4.4 percent for the period as exports increased 2.1 percent.

Among individual categories:

Tires and related products deficit grew 5.1 percent in November, to $697.3 million. It is up 4.9 percent for the year to $8.26 billion;

The hose and tubing shortfall dipped 0.9 percent in November to $23.8 million but was up 40 percent year to date to $344 million;

The belting deficit fell 3.5 percent for the month to $17.6 million but climbed 13.8 percent for the year to $185.6 million.

The miscellaneous hard rubber goods shortfall was down 22.5 percent in November to $75.4 million but up 0.4 percent for the year to $867.7 million.

On the supply side, the monthly surplus jumped 66.2 percent in November to $106 million and gained 43.4 percent for the first 11 months of 2014 to $815.2 million.