|From Industryweek.com: For the third consecutive month, the trade deficit narrowed to $39.9 billion in December, the Commerce Department reported on Feb. 11.The trade deficit fell 4.1% from $41.6 billion in November. The December gap of $39.9 billion was the smallest deficit since February 2003.
For the full-year 2008, the U.S. trade deficit fell 3.3% to $677.1 billion from the prior year. It was the second year in a row the shortfall has narrowed, after a decline of 7% in 2007. The last time there was a back-to-back annual decline was in 1990-1991..... Full Article: Source