NEW YORK -- The United States’ trade deficit widened by 12.2 percent in 2022 amid stronger exports and imports, according to data released by the U.S. Bureau of Economic Analysis and Census Bureau Tuesday.

The goods and services deficit was 948.1 billion dollars in 2022, hitting a record high.
Exports were three trillion dollars, up 453.1 billion dollars from 2021. Imports were 3.96 trillion dollars, up 556.1 billion dollars from 2021.
The 2022 increase in the goods and services deficit reflected an increase in the goods deficit of 9.3 percent to 1,191.8 billion dollars and a decrease in the services surplus of 0.6 percent to 243.7 billion dollars, the report noted.

Analysts have said the data reflects the high inflation's influence on trade and it is a result that companies scrambled early on to replenish merchandise to meet demand. But as the Federal Reserve and central banks in other global economies increase interests to fight inflation, it is predicted that global trade growth will slow down this year.