WASHINGTON—Continued strong consumer appetite for overseas goods pushed up the U.S. trade deficit in December, sending the full-year import-export gap to a record level in 2021.
The December deficit in trade of goods and services grew by 1.8% to a seasonally adjusted $80.7 billion, the Commerce Department said Tuesday, just less than the record deficit of $80.8 billion in September.
The full-year trade deficit for 2021 increased 27% to $859.1 billion, larger than the previous record of $763.53 billion in 2006. Annual trade balance records date back to 1960.
The sharp increase in the trade deficit comes as the U.S. economy continues to recover strongly from the pandemic-induced slump during 2020. American consumers have spent heavily on imported goods such as computers, game machines and furniture, flush with…
