November saw a 17.5% increase in US goods trade deficit

Posted on January 10, 2022   |  

• In November, the trade deficit in goods grew by 17.5% due to improvements in the U.S. economy, and U.S. imports grew by 4.7% to $252.4 billion, and imports of industrial supplies, autos, consumer goods, and food rose sharply.
• The trade gap in goods reached $97.8 billion from %83.2 billion in October which is on track to be the biggest annual shortfall for the U.S. in 2021.
• In October, US goods exports dropped by 2.1% to $154.7 billion and most of the shipments fell as the economies of major U.S. trading partners didn't recover rapidly.