WT: US exports fell in 2015 for first time since recession
WASHINGTON (AP) — The U.S. trade deficit rose in December as American exports fell for a third straight month, reflecting the pressures of a stronger dollar and spreading global weakness. Those factors contributed to the first annual drop in U.S. export sales since the Great Recession shrank global trade six years ago.
The Commerce Department says the December deficit increased 2.7 percent to $43.4 billion. Exports fell by 0.3 percent, driven by sales declines of civilian aircraft, autos and farm products. Imports increased 0.3 percent as Americans bought more foreign-made cars and petroleum.
For all of 2015, the deficit rose 4.6 percent to $531.5 billion. Exports fell 4.8 percent, the first setback since 2009 when the world was in the grips of recession. Imports also retreated 3.1 percent.
