U.S. Goods Trade Deficit Hits Record High, Seen Weighing on First-quarter GDP Growth

01 March 2022

The goods trade deficit jumped 7.1% to an all-time high of $107.6 billion last month.

Exports dropped 1.8%, weighed down by consumer goods, motor vehicles, food and other goods. But exports of capital goods and industrial supplies increased.

Imports of goods increased 1.7%, led by food and motor vehicles.The increase in imports last month largely reflected the rebuilding of inventories. Stocks at wholesalers increased 0.8% after climbing 2.3% in December. Inventories of durable goods, items which are meant to last three year and longer, rose 1.0%, while stocks of wholesale nondurable goods climbed 0.5%.

Source:  Reuters
Post by: Republic of Turkiye Ministry of Trade