U.S. Trade Gap Reaches Record Level

he U.S. trade deficit widened to a record for a fourth straight year in 2005 as both Chinese imports and energy prices soared to record high levels, Bloomberg reported Friday.

U.S. companies imported $726 billion more goods and services than they exported in 2005, the Commerce Department reported. The December shortfall in increased to $65.7 billion from $64.7 billion a month earlier.

Improvement in the trade deficit this year may prove difficult because the U.S. economy is stronger than most of its trading partners, Bloomberg reported.

December imports rose to a record $177.2 billion, boosted by overseas shipments of business equipment, industrial supplies, motor vehicles and consumer goods including electronics, Bloomberg reported.

Exports also increased, to an all-time high of $111.5 billion.