The US trade deficit in 2019 fell for the first time in six years

the trade Deficit in the U.S. last year fell for the first time in six years against the background of falling supplies from China and oil imports.

the trade Deficit in goods and services in 2019 decreased by 1.7% to $616,8 billion, according to the U.S. Department of Commerce. The decrease recorded for the first time in 2013.

the trade Deficit in goods last year decreased by 2.4% to $886 billion.

the Export of civilian aircraft in the past year fell by 22.2%, while exports of manufactured goods decreased by 2%. The import of capital and manufactured goods also declined compared to the previous year, while imports of consumer goods increased.

In December the trade deficit in goods and services increased by 11.9% compared to the previous month and amounted to $48,88 billion.

Imports in December rose 2.7 percent. Exports rose 0.8% to $209,64 billion.

the Report of the Ministry of Commerce also showed that exports of goods to China last year fell by 11.3%, while imports of goods fell by 16.2%. As a result, the trade deficit in goods with China last year decreased by 17.6% to $345,62 billion, reaching a low in 2014.

the U.S. and China on 15 January signed a trade agreement the first phase. Their signatures under the document were put by US President Donald trump and Vice-Premier of the state Council of the PRC Liu he.

under the agreement in the next two years China agrees to invest in the purchase of American goods by $200 billion more than in 2017. This applies mainly to industrial goods and agricultural products but also covers energy commodities, including oil, LNG and coal.

meanwhile, remained in force U.S. duties on Chinese goods worth around $370 billion. in addition, the recent outbreak of coronavirus in China threatens to break the transport connection and the global supply chain in the coming months.

the trade Deficit of the USA in 2019 amounted to 2.9% of GDP compared to 3% in 2018.

the Data of the Ministry of TorgEvli USA last week showed that the largest economy in the world grew by 2.3% in 2019, the minimum rate in 2016. In 2018, was recorded a rise of 2.9%.

the Decline in imports in the fourth quarter, largely because of trade war with China, led to the reduction of the trade deficit. As a result, net exports added of 1.48 percentage points to GDP growth.