WASHINGTON—The U.S. rubber prod– uct trade deficit improved 5 percent in the first quarter, but it wasn’t a surge in exports that led the way.
U.S. Department of Commerce data show rubber product foreign trade in the three months fell 3 percent, contrasting with a large increase for all of U.S. business—although imports enjoyed most of those gains.
In rubber goods manufacturing, the trade deficit narrowed to $2.58 billion for the January-March period.
The tire sector posted a 7.5-percent lower deficit for the three months, to just short of $2 billion. The truck and bus tire segment led the way with a 24.8-percent improvement in its deficit, which stands at $382.2 million through March.
Other smaller categories of tires also showed smaller deficits—aircraft, retreads, solid and bikes, among others. However, the single largest category, passenger tires, recorded a 3-percent worsening of the deficit, to $1.25 billion. Imports climbed 1.4 percent for car tires, while exports fell 1.9 percent.
All but three of the 18 individual rubber goods sectors tracked posted deficits through March.
The trade balance improved for a number of materials used by the rubber product industry. Among synthetic rubbers, only nitrile and reclaim recorded trade deficits.
Source: rubbernews.com
