The US trade deficit dropped to its lowest level in more than five years in November as the economic slowdown led to lower demand for imports.
The trade deficit shrank 28.7% from October to $40.4bn (£27.7bn), the Commerce Department said.
Total imports fell 12%, led by a 36.5% drop in oil imports after the price of crude dropped sharply.
There are expectations that the US trade deficit will continue to narrow as 2009 progresses.
The latest deficit figure was lower than expected and came after October's downwardly revised $56.7bn trade deficit. - BBC
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Topic: America Faces Lowest Trade Deficit (Read 722 times)