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U.S. trade deficit rises in December; deficit in 2021 largest on record -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: Two shipping containers, one labeled “China Shipping”, and the other “Italia”, were stacked at Boston’s Paul W. Conley Container Terminal on May 9, 2018, U.S.A. REUTERS/Brian Snyder

WASHINGTON (Reuters] – In December, the U.S. trade gap grew as imports soared due to the restocking shelves by businesses. The result was the greatest shortfall ever recorded in 2021.

Commerce Department on Tuesday reported that trade deficit rose 1.8% in December to $80.7 billion. According to the Commerce Department, November’s data was revised downward to reveal a $79.3 trillion gap rather than $80.2 billion. Reuters polled economists to forecast a deficit of $83.0 Billion.

This deficit increased by 27.0%, to $859.1 million in 2021. This was the largest deficit ever recorded, following a $676.7 million shortfall in 2020.

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