U.S. TRADE DEFICIT 38.37 BILLION DLRS IN 4TH QTR

  The U.S. merchandise trade deficit
  on a balance of payments basis was a record 38.37 billion dlrs
  in the October to December fourth quarter, the Commerce
  Department said.
      The record trade shortfall came after a revised 37.15
  billion dlr third quarter deficit. The department previously
  reported the third quarter deficit was 37.67 billion dlrs.
      For the full year 1986, the merchandise trade deficit was a
  record 147.7 billion dlrs, up from 124.4 billion dlrs in 1985,
  the department said.
      During the final quarter last year imports rose 2.78
  billion dlrs or three pct to 95.7 billion dlrs, while exports
  rose 1.56 billion dlrs or three pct to 57.33 billion dlrs.
      The trade report on a balance of payments basis excludes
  such factors as military sales and the costs of shipping and
  insurance.
      The Commerce Department said non-petroleum imports in the
  quarter were up 2.7 billion dlrs or three pct to 87.7 billion
  dlrs, with the largest increases in consumer goods, which rose
  1.2 billion dlrs, and in non-monetary gold and passenger cars
  from Canada, up 900 mln dlrs each.
      Lumber imports from Canada fell 300 mln dlrs or 33 pct
  because of a 15 pct duty on imports from Canada, the department
  said. Passenger car imports fell 600 mln dlrs because of an 18
  pct decrease in the number of South Korean-made imported cars
  and a nine pct decrease from Japan.
      On the exports side, agricultural exports rose 600 mln dlrs
  or nine pct to 7.1 billion dlrs, primarily because of a 104 pct
  or 600 mln dlr increase in soybean exports.
      Soybean shipments to Western Europe rose sharply because
  supplies from Brazil, a traditional major exporter, were
  limited by drought.
      Commerce said the U.S. trade deficit with Latin America
  rose 900 mln dlrs to 2.6 billion dlrs, with Japan increased 700
  mln dlrs to 14.8 billion dlrs and with Western Europe rose 200
  mln to 7.2 billion dlrs in the quarter.
      The deficit with newly industrialized Far East countries,
  including Hong Kong, South Korea, Singapore and Taiwan, fell
  500 mln dlrs to eight billion dlrs and with Canada the deficit
  decreased 200 mln dlrs to 3.3 billion dlrs in the quarter.
      In the full year 1986, imports rose 30.6 billion dlrs or
  nine pct to 369.5 billion dlrs. Exports increased by only 7.3
  billion dlrs or three pct to 221.8 billion dlrs.
      Commerce said petroleum imports during 1986 fell 16.6
  billion dlrs or 33 pct to 33.9 billion dlrs because of lower
  prices. The average price per barrel decreased to 14.72 dlrs
  from 26.41 dlrs.
      Agricultural exports fell by 2.6 billion dlrs or nine pct
  to 26.9 billion during the year. The average price of rice fell
  27 pct, cotton was down 22 pct, corn 18 pct, wheat 16 pct and
  soybeans nine pct.
      The trade deficit with Japan for all of 1986 rose 11.1
  billion dlrs to 54.6 billion dlrs and with Western Europe
  increased 7.2 billion dlrs to 28.6 billion dlrs.
  

