DJ U.S. Trade Deficit Narrowed In December as Exports Outpaced Imports
WASHINGTON -- The U.S. trade deficit narrowed in December, as exports expanded amid a continued recovery in the global economy.
The U.S. posted a deficit of $66.6 billion in trade in goods and services in December, compared with a revised $69.01 billion in November, the Commerce Department said Friday. The figures were adjusted for seasonal variations.
Economists polled by The Wall Street Journal had forecast a $65.7 billion deficit for December.
Exports from the U.S. rose 3.4% from a month earlier to $190 billion, while imports increased 1.5% to $256.6 billion.
For all of 2020, the trade deficit in goods and services rose 17.7% from 2019. Exports fell by 15.7%, a much faster pace than a 9.5% decline for imports.
Trade has recovered as the U.S. and global economies rebounded from the nadir following the onset of the Covid-19 pandemic early in 2020. Imports to the U.S. have grown faster than exports as Americans spent their stimulus payments on automobiles, computers for work at home and other goods made overseas.
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(END) Dow Jones Newswires
February 05, 2021 08:45 ET (13:45 GMT)
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