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The American foreign trade deficit at the end of autumn was at the maximum mark for the last six years, which is a reflection of the increase in import volumes, as the mood of consumers rose again, and, therefore, citizens began to make more purchases.
According to the latest report, the growth of the foreign trade deficit amounted to 3.2% on a monthly basis and reached a value of $ 50.5 billion. Experts assumed that the value will not exceed the level of 49.8 billion. The growth of imports was 2.5%, and exports - 2.3%.
The growth of foreign trade volumes testifies to the continuation of economic growth not only in the US, but, at least, with its trading partners. It is noted that for the first time in a long time developed economies demonstrate synchronous growth. The growth of both imports and exports turned out to be a record. During the January-November period, exports gained 5.6% year-on-year, and imports - 6.7%. The foreign trade deficit for the same time period increased within 11.6%.
The growth of the foreign trade deficit is quite ambiguous for the country. On the one hand, the increase in the volume of imported products indicates that American citizens and enterprises have enough savings in their hands and are confident that their income prospects are positive. On the other hand, the increase in imports is an increase in the amount of funds that go to the hands of foreign enterprises, and this entails a decrease in the productivity of local enterprises.