Washington: The trade deficit between India and the US decreased by USD 1.6 billion, almost seven per cent, in 2018 as compared to the previous year, according to the latest official figures.
India recorded a decrease in the deficit from USD 22.9 billion in 2017 to USD 21.3 billion in 2018, according to the latest figures revealed by the Bureau of Economy Analysis, Wednesday.
The US trade deficit in goods and services increased by USD 9.5 billion from USD 50.3 billion in November to USD 59.8 billion in December.
For 2018, the US goods and services deficit was USD 621.0 billion, up USD 68.8 billion from USD 552.3 billion in 2017. Exports were USD 2,500.0 billion in 2018, up USD148.9 billion from 2017. Imports were USD 3,121.0 billion, up USD 217.7 billion from 2017.
The figures showed that the goods deficit hit USD 891.3 billion in 2018, the largest in US history. America’s goods deficit with China hit a record USD 419.2 billion last year.
PTI
