US trade deficit hits an all-time high driven by imports of industrial supplies

  • 12/30/2021
  • 00:00
  • 3
  • 0
  • 0
news-picture

A 10 percent spike in purchases of industrial supplies prompted the US trade deficit to reach a record high of $97.8 billion in November. It increased by 17.5 percent from a month earlier, seasonally-adjusted preliminary estimates showed. Imports, as a whole, were 4.7 percent higher in November — hitting $252.4 billion. Procurements of foreign automotive vehicles and food were up by 4.5 percent and 3.4 percent, respectively, data from the US Census Bureau revealed. Despite a 4.3 percent rise in food shipments from the US, overall exports dropped by 2.1 percent from a month earlier to stand at $154.7 billion. Both sales of industrial supplies and automotive vehicles went down by 2.3 percent as well. In annual terms, the country"s trade gap expanded by 14.5 percent.

مشاركة :