Forex News: 13.02.2007 U.S. trade gap widens to $61.2 bln in December
The U.S. trade deficit widened in December and swelled to a new annual record, a government report showed. The nation's trade gap widened by 5.3% in December to $61.2 billion. Analysts had expected the deficit to increase to $59.5 billion.
Despite the improvement in September through November, for all of 2006, the U.S. posted a record trade deficit of $763.6 billion. This compared with a deficit of $716.7 billion. But in a sign that the trade gap could be stabilizing, the deficit was 5.8% of gross domestic product in 2006, the same percentage as in 2005.
In December, imports rose faster than exports. As economists had forecast, imports of petroleum products rose sharply and exports of civilian aircraft declined. Imports increased 2.1% to $186.7 billion. December exports rose 0.6% to $125.5 billion.
Despite the improvement in September through November, for all of 2006, the U.S. posted a record trade deficit of $763.6 billion. This compared with a deficit of $716.7 billion. But in a sign that the trade gap could be stabilizing, the deficit was 5.8% of gross domestic product in 2006, the same percentage as in 2005.
In December, imports rose faster than exports. As economists had forecast, imports of petroleum products rose sharply and exports of civilian aircraft declined. Imports increased 2.1% to $186.7 billion. December exports rose 0.6% to $125.5 billion.
posted by Kalin Tasev @ 2:27 PM
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