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Partly as a result of shipments of crude oil, fuel oil and natural gas to Europe, total U.S. exports grew more quickly than imports last
Partly as a result of shipments of crude oil, fuel oil and natural gas to Europe, total U.S. exports grew more quickly than imports last year. A recovery in the U.S. travel and transportation sector after the pandemic also pushed up exports of American services. The overall volume of U.S. imports remained much larger than exports, however, resulting in a trade deficit. Exports of goods and services rose 17.7 percent to $3 trillion, while imports rose 16.3 percent to $4 trillion. The strong value of the U.S. dollar also made foreign goods cheaper than American ones, driving up the trade deficit. In December, U.S. exports fell slightly from the previous month to $250.2 billion, as the global economy slowed and the United States sent fewer industrial materials and consumer goods abroad. Imports edged up to $317.6 billion
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