Trade deficit in US plunges on record petrol exports

The trade deficit in the US narrowed more than forecast in December, led by record exports of petroleum that gave the US a boost at the end of 2012.

8th February, 2013
US trade deficit fell

The trade deficit in the US narrowed more than forecast in December, led by record exports of petroleum that gave the world’s largest economy a boost at the end of 2012.

The gap shrank 20.7 per cent to $38.5 billion (€27.7 billion), lower than any estimate in a Bloomberg survey of 73 economists and the least since January 2010, US Commerce Department figures showed today in Washington.

The jump in fuel sales to overseas buyers, combined with purchases...

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