BASED on the latest data released by the US Census Bureau and the US Bureau of Economic Analysis, the United States recorded total exports of US$2.08 trillion and imported some US$3.3 trillion worth of goods last year, resulting in a trade deficit of US$1.21 trillion.
Compared with a year ago, total exports rose by 1.9% but imports surged by 6%, which resulted in the trade deficit rising by 14% year-on-year.
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