US trade deficit up to $US48.8 billion

Reported by AAP
Saturday, February 11, 2012

Currency Converter

altTax Time 2011Doing your tax doesn't need to be daunting! Check out ninemsn Finance's Tax Time for tips and advice on how to make your 2011/12 tax return work for you.

The US trade deficit has widened in December after exports rose at half the pace of imports, and the 2011 deficit reached its highest level since 2008.

Still, exports to Europe rose at a healthy clip, a sign that the critical US trading partner is buying American goods despite its weakened economy.

The Commerce Department says the trade deficit increased to $US48.8 billion ($A45.41 billion), the largest imbalance since June.

Exports rose 0.7 per cent.

Imports rose 1.3 per cent.

For 2011, the deficit climbed to the highest level since 2008 as both exports and imports rose to all-time highs.

The $US558 billion deficit for 2011 reflected a 14.5 per cent increase in exports to a record $US2.1 trillion and a 13.8 per cent gain in imports to a record $US2.66 trillion.

21/05/2012 23:57Sydney, Australia. 21 May,2012
advertisement

Most Recommended