U.S. exports on record pace, but so is trade deficit with China

Pritzker calls exports `a bright spot' in economy

McClatchy Washington BureauJanuary 7, 2014 

U.S exports hit an all-time monthly high of $194.9 billion in November, with record levels in petroleum and services, Commerce Secretary Penny Pritzker said today.

Exports through the first 11 months of the year totaled $2.1 trillion, with the U.S. on track for a record-setting year, the department said.

"Today's data show that U.S. exports continue to be a bright spot in our economic recovery," Pritizker said, adding that they now support nearly 10 million American jobs.

The Alliance for American Manufacturing noted one not-so-bright spot: The monthly U.S. trade deficit with China, while declining slightly from October, stood at $26.9 billion in November and is headed for a new high.

"Our trade deficit with China continues on a record pace for 2013 and remains a tremendous drag on economic growth while stifling future job opportunities," said Scott Paul, the group's president.

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