US Trade Gap Largest Since November of 2012

US trade deficit widened to $46.6 billion in December from $39.8 billion in November as exports was down 0.8 percent and imports grew 2.2 percent.

December exports were $194.9 billion, down 0.8 percent or $1.5 billion from November hurt by a strengthening dollar and a labor dispute at U.S. West Coast ports. Shipments to Canada and Mexico declined while those to Japan, China and the European Union rose.

December imports were $241.4 billion, up 2.2 percent or $5.3 billion from November with imports of non-petroleum products surging to a record high. 

The December increase in the goods and services deficit reflected an increase in the goods deficit of $6.9 billion to $66.0 billion and an increase in the services surplus of $0.1 billion to $19.5 billion.

For 2014, the goods and services deficit was $505.0 billion, up $28.7 billion or 6.0 percent from 2013. Exports were $2,345.4 billion, $65.2 billion or 2.9 percent. Imports were $2,850.5 billion, up $93.9 billion or 3.4 percent.

US Trade Gap Largest Since November of 2012

Anna Fedec |
2/5/2015 1:52:26 PM