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US current account trade deficit hits $484.1 billion in 2015

In this Thursday, March 3, 2016 photo, container ships are moored to docks at the Port of Oakland in Oakland, Calif. On Thursday, March 17, 2016, the Commerce Department reports on the U.S. current account trade deficit for the 2015 October-December quarter. (AP Photo/Ben Margot)
In this Thursday, March 3, 2016 photo, container ships are moored to docks at the Port of Oakland in Oakland, Calif. On Thursday, March 17, 2016, the Commerce Department reports on the U.S. current account trade deficit for the 2015 October-December quarter. (AP Photo/Ben Margot) In this Thursday, March 3, 2016 photo, container ships are moored to docks at the Port of Oakland in Oakland, Calif. On Thursday, March 17, 2016, the Commerce Department reports on the U.S. current account trade deficit for the 2015 October-December quarter. (AP Photo/Ben Margot)

By Associated Press 1 min read

WASHINGTON (AP) – The deficit in the broadest measure of U.S. trade declined slightly in the final three months of 2015, but for the entire year the deficit jumped to the highest level in seven years.

The Commerce Department says the deficit in the current account narrowed to $125.3 billion in the fourth quarter, down 3.6 percent from a deficit of $129.9 billion in the third quarter.

The deficit for the entire year rose to $484.1 billion, up 24.3 percent from a 2014 imbalance of $389.5 billion. It was the biggest annual deficit since 2008 when the deficit totaled $690.8 billion.

The big deterioration reflected the struggles U.S. companies are having as weakness in major economies overseas and a stronger dollar have sharply reduced export sales.