The Limited Times

Now you can see non-English news...

United States: the trade deficit widened by 27% last year and reached a record level

2022-02-08T14:16:41.613Z


The pandemic weighed on the US trade balance, which was already heavily in deficit. The United States' trade deficit widened by 27% last year, under the effect of the rebound in demand and trade after a year 2020 marked by the spread of the Covid-19 pandemic which had paralyzed in the spring the US and world economy. Read alsoThe French trade deficit reached 84.7 billion euros in 2021, an absolute record The goods and services deficit hit a record high of $859.13 billion. And t


The United States' trade deficit widened by 27% last year, under the effect of the rebound in demand and trade after a year 2020 marked by the spread of the Covid-19 pandemic which had paralyzed in the spring the US and world economy.

Read alsoThe French trade deficit reached 84.7 billion euros in 2021, an absolute record

The goods and services deficit hit a record high of $859.13 billion.

And the goods deficit reached 1,090.68 billion dollars.

For the month of December alone, the deficit reached 80.73 billion, which is more than the 79.6 billion dollars expected by analysts.

Conversely, at 231.5 billion dollars, the surplus for trade in services is the lowest since 2012. Over the year as a whole, exports rebounded by 18.5%, but imports grew even faster (+20.5%), boosted by domestic demand.

Increase in imported consumption

American households had indeed benefited from substantial aid from the government, which had unexpectedly inflated their savings before feeding consumption.

Americans have been particularly fond of cell phones, household equipment, toys, as well as sporting goods and clothing.

By geographical area, the deficit of the United States widened by 14.5% with China, it more than tripled with Canada, it jumped by 19.2% with the European Union.

Read alsoTrade deficit: "We are paying the consequences of the abandonment of the industry"

On the other hand, it fell with Mexico (-4.8%).

For the month of December alone, the deficit reached $80.73 billion.

This is more than the 79.6 billion dollars expected by analysts.

Source: lefigaro

All news articles on 2022-02-08

You may like

Trends 24h

News/Politics 2024-04-17T18:08:17.125Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.