IANS | 09 Feb, 2013
The US trade deficit edged down in December 2012 due to a rise in exports and a decrease in imports, the Commerce Department reported.
The total trade deficit declined to $38.5 billion in December, down from a revised $48.6 billion in November, reported Xinhua.
Exports rose by $3.9 billion from the previous month to $186.4 billion in December.
Imports dropped by $6.2 billion from the previous month to $224.9 billion for the month caused by a plunge in oil imports.
The trade deficit has been a drag on US economic growth for many years. In 2012 overall, the trade deficit declined 3.5 percent from the previous year to $540.4 billion.