US Trade Gap Fell By $63B In 2013 Despite Dec. Increase

Law360, New York (February 6, 2014, 6:12 PM EST) -- Despite a wider monthly trade deficit in December, the U.S. trade gap decreased overall in 2013 by more than $63 billion compared to 2012, according to data released Thursday.

As 2013 wrapped up, the overall U.S. trade deficit goods and services totaled $471.5 billion, some 11.8 percent lower than 2012's $534.7 billion trade gap, according to statistics put out by the U.S. Commerce Department's Census Bureau and Bureau of Economic Analysis.

“As a percentage of U.S. gross domestic product, the goods and services deficit was 2.8...
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