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    Home » US Trade Deficit in Goods Climbs Over $1 Trillion in 2021 on Record Surge on Imports
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    US Trade Deficit in Goods Climbs Over $1 Trillion in 2021 on Record Surge on Imports

    January 26, 20221 Min Read
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    The US trade deficit in goods surpassed $1 trillion in 2021 for the first time in history as the economy rebounded, driving imports to a record high.

    • For the full year 2021, the trade gap in goods expanded to $1.08 trillion from $893.5 billion in the prior year. The deficit in 2020 had also been a record high.
    • The deficit in goods rose 3% in December to $101 billion from $98 billion. It was the biggest monthly surge on record.
    • Demand for US exports was slower to recover due to other countries lagging behind in their economic recoveries.
    • The deficit is anticipated to subside after other countries catch up, but the US has run large trade gaps for many years.

    Exports increased slightly by 1.4% to $157.3 billion. The overall trade deficit in 2021 is projected to fall short of $1 trillion.

    DXY up +0.06%, EUR USD down -0.05%

    Source: US Census Bureau

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