U.S. trade deficit widens in December

The U.S.Clawfoot tubs trade deficit widened in December as exports fell, but the annual gap in 2013 shrank to the lowest since 2009 with exports climbing to record high.The deficit of goods and services increased by 12 percent to 38. 7 billion U.S. dollars in December, the Commerce Department reported Thursday.Exports fell 1.8 percent to 191.3 billion U.S. dollars, reflecting decreases in industrial supplies and materials, automotive vehicles and parts. Imports increased 0.3 percent to 230 billion U.S. dollars, boosted by capital goods, engines and consumer goods.In December, the goods deficit increased to 58.8 billion U.S. dollars, and the services surplus increased to 20.1 billion U.tyre equipmentsS. dollars.Analysts said the larger-than-expected trade deficit could trim the de-facto fourth quarter gross domestic product which grew 3.2 percent based on preliminary calculation.In terms of the annual reading, trade deficit improved 63.1 billion U.S. dollars from the past year to 471.5 billion U.S. dollars, the lowest since 2009.

Exports reached 2.3 trillion U.S. dollars last year, setting a new record for a fourth straight year.The goods export sectors reached all-time highs across the board last year, while surplus in services exports reached a record 231.6 billion U.S.Antique bath fixtures dollars, an increase of 12 percent from 2012."We've achieved a fourth-consecutive year of record-breaking export levels, demonstrating the strong momentum behind President Obama's export agenda," said Commerce Secretary Penny Pritzker.Every 1 billion U.S. dollars in additional exports support approximately 5,000 U.S. jobs, and as such, trade and investment are critical to the strength of our economy, he noted.Since President Obama launched the National Export Initiative in 2010, an ambitious plan to sell more American goods and services into foreign markets, the United States has not only seen record exports but has seen an increase of 1.3 million export- related jobs, the department said in a statement.In terms of countries, the U.S. trade deficit with Canada stood at 3.39 billion U.S. dollars, and 11.3 billion U.S. dollars with the European Union, 4.17 billion U.S. dollars with Mexico, and 24. 5 billion U.S. dollars with China.