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US trade deficit up to $67.4 billion in December

The goods and services trade deficit in the United States came in at $67.4 billion in December, increasing by $6.4 billion in comparison to the last month's revised figure, the country's Bureau of Economic Analysis and the Census Bureau shared in their final report on Tuesday.

In December, exports stood at $250 billion, down by $2.2 billion in comparison to the month prior, while imports rose by $4.2 billion, totaling $317.6 billion. The goods deficit was went up by $7.4 billion to $90.6 billion, while the services surplus grew $1 billion to $23.2 billion.

For the entire 2022, the goods and services deficit increased by 12.2% or $103 billion in comparison to the year before, amounting to $948.1 billion. Exports skyrocketed by 17.7% to reach $3.01 trillion, while imports jumped 16.3% to a total of $3.96 trillion.

Baha Breaking News (BBN) / AB