
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, March 18, 1992                   TAG: 9203180064
SECTION: BUSINESS                    PAGE: A-7   EDITION: METRO 
SOURCE: Associated Press
DATELINE: WASHINGTON                                LENGTH: Short

TRADE BEST IN 10 YEARS

The United States turned in its best performance in international trade in nearly a decade last year as the country's current-account deficit shrank dramatically to $8.62 billion, the government said Tuesday.

That marked a sharp turnaround from a $92.12 billion deficit in 1990. Nearly one-half of the improvement came from foreign payments to cover the costs of the Persian Gulf War. However, a record level of American export sales and the recession, which cut into import demand, also helped.

The deficit in the current account, which measures not only trade in merchandise but also in services and investment flow between countries, also declined in the final three months of the year, dipping to $10.27 billion compared to a revised $11.62 billion in the third quarter.

by CNB