US 2006 trade deficit at record $763.6b
Afp, Washington
The US trade deficit surged to a record 763.6 billion dollars in 2006 owing to new highs for oil prices and the country's commercial shortfall with China, the government said Tuesday. The Commerce Department said the December gap alone was 61.2 billion, up from 58.1 billion in November and higher than the Wall Street forecast of 59.5 billion. The annual figure was up from 716.7 billion dollars in 2005, registering the fifth consecutive year of a record as oil prices struck new highs above 78 dollars in mid-2006.
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