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US trade deficit hit record in 2024 as imports surged

The US trade deficit in goods hit a record last year, as American consumers snapped up imported products and a strong US dollar weighed on export growth.

Data released on Wednesday (Thursday AEDT) by the Commerce Department showed that US imports of goods and services grew 6.6 per cent to $US4.1 trillion ($6.5 trillion), as Americans bought plenty of weight-loss drugs, auto parts, computers and food from other countries.

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    Original URL: https://www.afr.com/world/north-america/us-trade-deficit-hit-record-in-2024-as-imports-surged-20250206-p5l9y3