November trade deficit hits near record-high $80.2 billion
By Martin Crutsinger, Associated Press
Jan 6, 2022
WASHINGTON (AP) — The U.S. trade deficit surged to a near-record high of $80.2 billion in November as exports slowed at the same time that imports jumped sharply.
The November deficit was 19.3% higher than the October deficit of $67.2 billion and was just below the all-time monthly record of $81.4 billion set in September, the Commerce Department reported Thursday.
November imports, goods Americans bought from other countries, jumped 4.% to $304.4 billion in November while exports, those the U.S. sends overseas, edged up a scant 0.2% to $224.2 billion.
Through the first 11 months of 2021, the U.S. trade deficit is 28.6% higher than during the same period last year with the economic recovery in the United States outpacing other nations, as is the readiness of Americans to spend.
For all of 2020, the U.S. trade deficit stood at $676.7 billion, a slight 0.1% above the 2019 figure.
The politically sensitive deficit with China in goods rose 2.9% to $32.3 billion in November and is up 12.8% for the first 11 months of this year compared to the same period in 2020
The United States and China...