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US Trade Deficit Hit Nearly $1 Trillion in 2022, Largest on Record
[Investopedia] The U.S. trade deficit hit a record of almost $1 trillion in 2022, with more than a third of the total coming from trade with China.The annual goods and services trade deficit rose 12.2% to $948.1 billion, the Commerce Department reported Tuesday. The goods deficit jumped 9.3% to $1.19 trillion, while the services surplus declined 0.6% to $243.7 billion.1 The deficit with China was the largest, climbing $29.4 billion to $382.9 billion. It was followed by the European Union (EU) at $203.9 billion, Mexico at $130.6 billion, and Vietnam at $116.1 billion. The U.S. recorded a trade surplus with South and Central America, totaling $76.2 billion, and the Netherlands at $38.3 billion. Posted by: Thruter Gloluger6393 2023-02-08 |
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