The United States' trade gap plunges 17.6%, the biggest percentage drop since April 2015, reflecting an increase in the flow of goods and services following disruptions caused by the COVID-19 pandemic.
that have suggested an acceleration in growth was underway as the year winds down.
Economists polled by Reuters had forecast a $66.8-billion deficit. Exports accelerated 8.1% to an all-time high of $223.6 billion. The surge was led by goods exports, which soared 11.1% to $158.7 billion, also a record high. The nation exported more services, which rose $1 billion to $64.9 billion. That reflected a rise in overseas travel, other business services, and charges for the use of intellectual property. Further gains are likely after the United Statescould, however, temporarily slow international travel following recent restrictions on travelers from southern African countries.
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