Newspaper article THE JOURNAL RECORD

U.S. Imports, Exports at $1 Trillion for '92; Third of World Trade

Newspaper article THE JOURNAL RECORD

U.S. Imports, Exports at $1 Trillion for '92; Third of World Trade

Article excerpt

WASHINGTON (AP) _ U.S. imports and exports hit $1 trillion for the first time last year, the International Monetary Fund reported, as world trade rose to a record $3.8 trillion.

It put U.S. imports at $552,616,000,000 and exports at $447,400,000,000, for a deficit of $105,216,000,000. Both exports and imports were larger than those of any other country.

Japan, though it had less trade, had a surplus of $107.04 billion.

The figures are higher than those issued by the U.S. Department of Commerce, which put total U.S. trade at $980.7 billion. The fund adjusts what it includes in the figures to conform with comparable results from its 178 member countries.

Globally, trade in 1992 increased 7 percent from 1991, according to a survey by the fund issued Monday.

The countries of the former Soviet Union and some of its allies did better than the world trend.

"The exports of this group to the rest of the world increased in 1992 by 7.7 percent, reversing the previous year's 2. …

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