U.S. markets open in 7 hours
  • S&P Futures

    4,081.00
    -9.00 (-0.22%)
     
  • Dow Futures

    34,082.00
    -74.00 (-0.22%)
     
  • Nasdaq Futures

    12,120.50
    -31.50 (-0.26%)
     
  • Russell 2000 Futures

    1,935.70
    -3.70 (-0.19%)
     
  • Crude Oil

    79.13
    +0.26 (+0.33%)
     
  • Gold

    1,927.00
    -2.50 (-0.13%)
     
  • Silver

    23.78
    -0.05 (-0.21%)
     
  • EUR/USD

    1.0880
    +0.0014 (+0.13%)
     
  • 10-Yr Bond

    3.5290
    0.0000 (0.00%)
     
  • Vix

    19.40
    -0.54 (-2.71%)
     
  • GBP/USD

    1.2323
    +0.0006 (+0.05%)
     
  • USD/JPY

    130.3760
    +0.3080 (+0.24%)
     
  • BTC-USD

    23,102.27
    +222.35 (+0.97%)
     
  • CMC Crypto 200

    524.33
    +5.54 (+1.07%)
     
  • FTSE 100

    7,771.70
    -13.17 (-0.17%)
     
  • Nikkei 225

    27,346.88
    +19.77 (+0.07%)
     

U.S. trade deficit jumps to 12-year high in 2020

Shipping containers are stacked at the Paul W. Conley Container Terminal in Boston

WASHINGTON (Reuters) - The United States' trade deficit surged to its highest level in 12 years in 2020 as the COVID-19 pandemic disrupted the flow of goods and services.

The Commerce Department said on Friday that the trade deficit jumped 17.7% to $678.7 billion last year, the highest since 2008. Exports of goods and services tumbled 15.7% to their lowest level since 2010. Imports of goods and services dropped 9.5% to a four-year low.

The plunge in exports contributed to the economy shrinking 3.5% last year, the biggest drop in gross domestic product since 1946. Trade flows have been gradually improving. For December, the trade deficit narrowed 3.5% to $66.6 billion .

Economists polled by Reuters had forecast the trade gap would shrink to $65.7 billion in December.

Imports of goods rose 1.5% to $217.7 billion in December. Goods exports shot up 4.7% to $133.5 billion.

(Reporting By Lucia Mutikani; Editing by Chizu Nomiyama)