P.M. BRIEFING : Tobacco Trade Surplus Reported
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PRINCETON, N.J. — Spurred by record tobacco exports, the U.S. tobacco industry recorded a 1990 first-half trade surplus of $2.49 billion, up 28% from $1.94 billion a year earlier, the Tobacco Merchants Assn. said today.
By comparison, the country’s total merchandise trade deficit for the first six months of 1990 amounted to more than $41.1 billion.
The tobacco surplus was led by product exports valued at $2.19 billion, including shipments of more than 73.7 billion cigarettes valued at $2 billion, the association said. During the period, the United States imported $59 million worth of finished tobacco products.
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