U.S. Trade Deficit Widens to $40.2 Billion

Feb. 10, 2010
Exports were $142.7 billion, while imports hit $182.9 billion

Capping a year that saw a massive drop in the trade gap, the December trade deficit widened sharply $40.2 billion, the Commerce Department said on Feb. 10.

Total exports of goods and services was $142.7 billion, while imports hit $182.9 billion in the last month of 2009.

The deficit in international trade of goods and services mushroomed to $40.2 billion, up about 10% from a revised $36.39 billion in November.

It was the third consecutive rise in the trade gap and the biggest deficit all year.

For the full year, the U.S. trade imbalance with the rest of the world improved impressively. The 2009 trade gap fell 45% from a year earlier to $380.7 billion, representing 2.9% of gross domestic product, a broad measure of the country's goods and services output.

In 2008 the trade gap amounted to 4.8% of GDP.

In December, U.S. exports rose $4.6 billion from the prior month, while imports were up $8.4 billion.

The goods deficit led the widening of the trade deficit, rising $3.4 billion from November to $51.8 billion. The services surplus slipped $0.4 billion to $11.7 billion.

Exports of goods rose to $99.1 billion, an increase of $4.6 billion from November. Goods imports climbed a hefty $8.1 billion to $150.9 billion.

Exports of services were "virtually unchanged" at $43.6 billion, and imports of services increased $0.3 billion to $31.9 billion.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Process Mining For Dummies

Nov. 19, 2023
Here it is. Everything you need to know about process mining in a single book, written in the easy-to-understand, hard-to-forget style that ‘For Dummies’ manages so effortlessly...

You Cannot Stay Competitive by Bolting New Technologies to a Legacy ERP

Oct. 20, 2023
Read this white paper to understand the benefits of shifting to a next-generation ERP system as part of a DOP.

How Digital Twin Technology is Empowering Manufacturers

Sept. 27, 2023
This FAQ delves into why this technology offers business value and considerations toward implementation.

Lean Manufacturing in the Age of the Industrial Internet

Oct. 24, 2023
Read how advanced MES capabilities can help you improve your labor utilization, reduce WIP, and optimize your production. Download the white paper today.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!