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U.S. trade deficit grows to 48.7 bln USD in November

11 January 2013 22:19 (UTC +04:00)

Baku-APA. The U.S. trade deficit edges up slightly in November, as a rise in imports outpaced an increase in exports, reported the Commerce Department on Friday, APA reports quoting Xinhua.

The total trade deficit grew to 48.7 billion U.S. dollars in November, up from a revised 42.1 billion dollars in October. Exports rose 0.9 percent from the previous month to 182.6 billion dollars in November, while imports increased 3.7 percent from the previous month to 231.3 billion dollars for the month.

The U.S. trade deficit with the 27-nation European Union decreased to 21.4 billion dollars in November from 21.7 billion dollars in October, according to the report.

Trade deficit has been a drag of the U.S. economic growth for many years. The U.S. economy grew at an annual rate of 3.1 percent in the third quarter, with real exports increasing by 1.9 percent and real imports decreasing by 0.6 percent.