Trade Gap Hits Record for Fourth Year in a Row
Posted on Feb 11, 2006
Washington Post: Trade Gap Hits Record For 4th Year In a Row
The U.S. trade deficit soared to a record in 2005 for the fourth year in a row, according to a government report released yesterday that provided a reminder of the dangers hovering over a generally robust economy.
The United States imported $725.8 billion more in goods and services than it exported last year, the Commerce Department said. That is up 17.5 percent from last year, and it is an all-time high not only in dollar terms but as a proportion of the economy; the figure is equal to 5.8 percent of gross domestic product. | story