December trade deficit widens to $38.7B

WASHINGTON (AP) — The U.S. trade deficit increased in December after hitting a four-year low in November. But for the year, the deficit fell to its lowest point since 2009 as exports rose to an all-time high.

The Commerce Department says the trade deficit increased to $38.7 billion in December, a 12% increase over November. U.S. exports slipped 1.8% to $191.3 billion while imports were up 0.3% to $230 billion.

For all of 2013, the deficit dropped 11.8% to $471.5 billion, the lowest level since the Great Recession caused the deficit to shrink in 2009.

U.S. exports rose 2.8%, as an improving global economy benefited American manufacturers and an energy production boom lifted U.S. petroleum exports to a record level. Imports dipped 0.1%.