The nominal trade deficit widened in December from the previous month as imports increased while exports fell. The decline in exports was relatively broad-based, and the increase in imports mainly reflected higher imports of consumer goods and industrial supplies and materials. Compared with a year ago, both exports and imports were virtually flat in December. For 2013, the nominal trade deficit decreased slightly as exports grew modestly while imports were essentially unchanged compared to 2012. Exports of all major product groups were higher in 2013, led by higher foreign sales of industrial supplies and materials (mainly energy products). A large drop in imports of crude oil offset increases in imports of other goods. By geographic area, the goods deficit with the European Union and China rose in 2013, and the deficit with Japan declined. China, Japan, and Germany are the countries with whom the United States ran the largest trade deficits last year. The United States had the biggest trade surpluses with Hong Kong, the Netherlands, and United Arab Emirates.
