The US trade deficit has fallen to its lowest level in four years, as of this past November. Dropping 12.9 percent, the deficit is at $34.3 billion which is the lowest monthly deficit the US has seen since October 2009.
Exports have risen 0.9 percent bringing them to a record $194.9 billion, supported by a 5.6 percent rise in petroleum exports. US imports have dropped 1.4 percent to $229.1 billion and there’s been a decrease in demand for foreign oil from imported automobiles. This means that American companies are gaining more from foreign sales while US consumers are not buying as many products from foreign companies which are boosting the United States’ economic growth.
