International Trade Balance Widened in December

The U.S. international trade deficit widened in December, growing $5.2 billion to $48.8 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Imports increased $6.8 billion, while exports rose only $1.6 billion virtually.

The goods deficit increased $5.1 billion to $69.7 billion, while the services surplus shrunk slightly to $20.8 billion.

Exports of goods increased $1.3 billion to $137.7 billion in December. Exports of services grew $0.3 billion to $71.9 billion.

Imports of goods increased $6.4 billion to $207.5 billion. Imports of services grew 0.4 billion to $51.1 billion in December.

Read the Census/BEA release.

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About Author

Hugo Dante

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.