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"Oil consumption is increasing; production is dropping; imports of foreign oil are rising.
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When the value of the currency drops, imports suddenly skyrocket.
China's exports have actually begun to drop, but imports are down by more.
Without this "omission", the trade deficit would have been £1.8bn, still much higher than the £1.1bn deficit in March, as exports have dropped and imports increased.
By early 2016, the U.S. trade deficit with South Korea had doubled as exports dropped and imports soared.
As Greenpeace analyst Lauri Myllyvirta writes: "In October, Chinese coal production dropped 8.5percentnt, imports dropped 17percentnt (for the third month in a row), and coal-fired power generation dropped 6percentnt.
March's decline was the third consecutive drop; import costs have not risen since September.
For the truth is that we're already having a hydrocarbon boom, with U.S. oil and gas production rising and U.S. fuel imports dropping.
Europe's largest economy is beginning to feel the pinch, with seasonally adjusted imports dropping 4.8%, their worst decline in two years according to Reuters.
Nevertheless, the Port of Charleston's trade with China is up 5.61% this year, despite exports dropping 1.34%, because imports have increased 10.82%.
Haiti was self-sufficient in rice – until President Clinton's administration insisted that the country drop its import tariffs to benefit US farmers.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com