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International

U.S. International Trade in Goods and Services, December and Annual 2022

00:24, Wednesday, 08 February, 2023
U.S. International Trade in Goods and Services, December and Annual 2022

The U.S. trade deficit widened in December, reversing some of the prior month's sharp contraction, as imports rebounded and exports declined further.
     The trade deficit increased 10.5% to $67.4 billion, the Commerce Department said on Tuesday. Data for November was revised to show the trade gap narrowing to $61.0 billion instead of $61.5 billion as previously reported. The trade deficit widened to $948.1 billion in 2022 from $845.0 billion in 2021.

Imports increased 1.3% to $317.6 billion, with goods rising 1.8% to $258.8 billion. Exports fell 0.9% to $250.2 billion. Goods shipments dropped 1.7% to $168.1 billion, mostly reflecting a big decline in prices.

A smaller trade deficit was one of the contributors to the economy's 2.9% annualized growth pace in the fourth quarter.

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