U.S. Trade Deficit Widens In November As Imports Surge

Umer Jamshaid Published January 07, 2022 | 02:20 PM

WASHINGTON, Jan. 7 (UrduPoint / Pakistan Point News - 7th Jan, 2022 ) --:The U.S. trade deficit widened sharply to 80.2 billion U.S. Dollars in November as imports surged, the U.S. Commerce Department reported on Thursday.

U.S. exports rose by 0.2 percent to 224.2 billion dollars in November while imports rose by 4.6 percent to 304.4 billion dollars. The goods and services deficit rose by 19.

4 percent from a revised 67.2 billion dollars in the previous month, according to the department.

"Strong imports continue to reflect the more robust recovery in the United States, but are also a sign of incremental improvement in easing supply chain constraints," Tim Quinlan and Shannon Seery, economists at Wells Fargo Securities, said Thursday in an analysis, noting U.S. imports of semiconductors rose by the most in eight months.