Their trade deficit soared to an all-time high USA last year after a sharp increase import. The superpower’s trade deficit widened 12.2% year-on-year to $948 billion, according to the US Department of Commerce, with December alone trade deficit reached $67.4 billion.

The value of imports in 2022 reflects the efforts of U.S. retailers to quickly replenish their stocks ahead of periods of big sales, so as not to again face the shortages, supply chain confusion and delays that occurred in 2021.

Of course, the goal was to provide enough supply of goods to be able to respond to demand. With U.S. unemployment close to historic lows and government programs boosting savings significantly, consumer spending in the superpower remains high. Thus, the value of imports increased by 16.3% compared to the level of 2021, reaching almost 4 trillion. dollars, and the export of goods and services increased by 17.7%, reaching 3 trillion. dollars.

It reached $948 billion, up 12.2% year on year.

However, international trade is expected to slow this year after aggressively raising interest rates by central banks to curb inflation, largely the result of extremely strong demand.

In fact, according to the IMF, international trade will grow this year at the slowest pace recorded since 2009, short of the devastating first period of the pandemic. The fund predicts a full recovery in international trade over the next year. But again, the risk of a recession in the US is likely to increase due to the transition to restrictive monetary policy, and rising interest rates could lead to a “freeze” in household spending. In fact, according to a Gallup poll, Americans are particularly pessimistic about the course of the US economy, with about 4 in 10 predicting a rise in unemployment.