US Trade Deficit Narrowed Last Year by the Most Since 2009

February 07, 2024

(Bloomberg) -- The US trade deficit narrowed last year by the most since 2009 as the value of imported goods declined and the services surplus increased. In December, the deficit in goods and services trade widened slightly from the prior month to $62.2 billion. A smaller trade deficit also helped contribute to economic growth. On an inflation-adjusted basis, the merchandise trade deficit narrowed to $82.8 billion in December from a month earlier. The nation’s merchandise deficit with China last year shrank 27% to an unadjusted $279.4 billion, the smallest since 2010.