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US Trade Deficit Up 27.0% in 2021 After December Increase

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The United States’ trade deficit widened further in December, bringing the full-year deficit up by double digits.

Source: Bureau of Economic Analysis

December’s trade deficit widened by 1.8% to $80.7 billion, as exports climbed by $3.4 billion from the previous month to $22.8.1 billion while imports climbed by $4.8 billion to $308.9 billion.

The latest trade deficit reflects a $3.2 billion increase in the goods deficit to $101.4 billion and an increase in the services surplus of $1.8 billion to $20.7 billion during the month.

The full-year goods and services deficit jumped by $182.4 billion, or 27.0% higher than the previous year. Exports climbed 18.5% or $394.1 billion, while imports jumped by 20.5% or $576.5 billion.

Upward revisions were recorded in both November exports and imports.

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