Trade Deficit Higher Than Expected in December

Washington, DC, Feb. 10, 2010--The U.S. trade deficit increased to $40.2 billion in December on rising oil imports, the Commerce Department reported Wednesday.

It was the largest trade gap in a year.

Economists were looking for the gap to widen to $37.7 billion from $36.4 billion in November.

Imports of goods and services increased $8.4 billion, or 4.8%, to $189.2 billion, led by higher imports of petroleum, autos, and capital goods.

Exports of goods and services rose $4.6 billion, or 3.3%, to $142.7 billion, led by higher exports of civilian aircraft and industrial materials.

For all of 2009, the deficit shrank to $380.7 billion, $315.3 billion less than the 2008 deficit of $695.9 billion.