Washington – The US rubber product trade deficit climbed 5.1 percent for the first half of 2015, totalling $6.26 billion.
That was after the shortfall for June jumped 11.8 percent to $1.21 billion, according to US Commerce Department data.
For the six-month period, exports dipped 3.9 percent to $5.1 billion, with imports up a bit less than 1 percent at $11.4 billion. During June, exports decreased 6.4 percent while imports climbed 4.1 percent.
The largest category, tires and related products, saw its deficit for 2015's first half inch up 1.5 percent to $4.64 billion. The rise was much stronger in June, with the deficit up 8 percent to $810.2 million.
For other rubber product categories during the first half:
• The belting trade shortfall fell 7.1 percent to $94 million;
• The hose and tubing shortfall dropped 12.5 percent to $154.8 million;
• The deficit for miscellaneous hard rubber goods increased 21.1 percent to $594 million;
• The shortfall for rubber- and plastic-coated garments rose 19.4 percent to $786.6 million.
On the supply side, the trade surplus grew 75.6 percent to $593.2 million for the first six months of 2015, as exports decreased 7.9 percent to $2.98 billion and imports lost 17.7 percent to $2.39 billion.