QQQ - U.S. Trade Deficit In 2023 Dropped 19% As Goods Deficit With China Plunged 29%
2024-02-09 21:00:00 ET
Summary
- At $773 billion, the total trade deficit was the least horrible since 2020, due to an improvement in the huge goods trade deficit and a jump to a record in the services trade surplus.
- By 2022, most of the travel restrictions were lifted or loosened, and travel in both directions rebounded.
- The opaque nature of international trade, such as trans-shipments through third countries, trade invoicing via third countries, etc., produces special effects, such as Ireland.
The much improved (or rather less horrible?) trade deficit was one of the reasons GDP was much stronger than expected. ...
U.S. Trade Deficit In 2023 Dropped 19%, As Goods Deficit With China Plunged 29%