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US Trade Deficit Hits Another Record-High


The U.S. monthly trade deficit rose to an all-time high in November as oil imports soared.

The gap between what Americans bought abroad and the goods and services they sold to foreign nations widened to a record $68.9 billion.

The surge surprised economists who expected declining oil prices to ease the trade deficit.

Wednesday's report from the U.S. Commerce Department says trade deficits with OPEC, China, Canada, the European Union, and Mexico were at record levels.

Some analysts say November's huge trade deficit puts the United States on track to exceed last year's record annual trade deficit of nearly $618 billion.

Some information for this report provided by AFP, AP, Bloomberg and Reuters.

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