Trade Deficit Up Sharply in December, Sees Smaller Rise for 2014
Highlights of the statistics for December include the following.
- the goods deficit rose 11.7 percent to $66.0 billion while the services surplus saw a 0.5 percent gain to $19.5 billion
- goods deficits were higher with China (up 1.7 percent to $30.4 billion), Mexico (up 27.3 percent to $5.6 billion), Canada (up 136 percent to $3.3 billion) and India (up 23.5 percent to $2.1 billion)
- goods deficits were lower with Germany (down 11.1 percent to $5.6 billion), Japan (down 3.6 percent to $5.4 billion) and Korea (down 6.9 percent to $2.7 billion)
- the goods deficit with the European Union was unchanged at $12.7 billion
- the U.S. ran goods trade surpluses with South and Central America ($2.6 billion), Brazil ($0.4 billion) and the United Kingdom ($0.1 billion)
Highlights of the statistics for all of 2014 include the following.
- the goods deficit increased 5.0 percent to $736.8 billion and the services surplus gained 2.9 percent to $231.8 billion
- the U.S. ran trade deficits with China ($342.6 billion), the European Union ($141.1 billion), Germany ($73.7 billion), Japan ($67.0 billion), Mexico ($53.8 billion), Canada ($34.0 billion), Italy ($25.1 billion), Korea ($25.1 billion), India ($23.6 billion) and Venezuela ($18.9 billion)
- the U.S. ran trade surpluses with Hong Kong ($35.1 billion), South and Central America ($34.4 billion), Australia ($16.0 billion) and Singapore ($14.1 billion)