(TRNS) — The U.S. trade deficit with China has risen by 40 percent since 2009, according to new figures released today by the Commerce Department.
While the U.S. sold about $13 billion in goods to China this past December, its imports from China totaled over $37 billion. Thus, an overall monthly deficit of around $24 billion. For the year, the trade deficit was $318.4 billion.
By comparison, the deficit with China was just below $227 billion back in 2009.
Overall in December, the U.S. sported a trade deficit of nearly $39 billion, according to Commerce. Trade with the European Union accounted for a deficit of over $11 billion.
In terms of exporting and importing goods and services, the U.S. ran a full year trade deficit of close to $472 billion, down from $557 billion in 2011 and $535 billion in 2012.
The report comes amidst intense efforts by the Obama administration to boost American exports to Asia by quickly approving new trade deals with Brunei, Singapore and New Zealand.