WASHINGTON: The US trade gap widened to a record in 2022, though expanding less than expected in December, government data said on Tuesday (Feb 7), capping off the year on robust imports and strong spending. The overall trade gap grew US$103.0 billion from 2021 to US$948.1 billion last year, according to C
WASHINGTON: The US trade gap widened to a record in 2022, though expanding less than expected in December, government data said on Tuesday , capping off the year on robust imports and strong spending.
US imports rose US$4.2 billion from November to December, hitting US$317.6 billion on greater spending on consumer goods such as cell phones and other household goods as well as automotive vehicles. For all of 2022, the deficit with China widened by US$29.4 billion to US$382.9 billion in 2022, on higher imports.
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