U.S. Trade Deficit Drops by Hefty 28.7%

Jan. 13, 2009

Deficit is at $40. 4 billion

Standing at $40.4 billion for November, the trade deficit fell by 28.7%, the Commerce Department reported on Jan. 13.

Analysts had expected a much smaller drop in the deficit in the international trade in goods and services to $51 billion after a revised $56.7 billion chalked up in October.

The November deficit resulted from exports of $142.8 billion and imports of $183.2 billion, the department said.

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