The US trade gap shrank by 4 per cent to 39.9bn in December, the commerce department said on Wednesday, as falling oil prices and weak consumption continued to narrow the deficit.

The December trade deficit hit a six-year low as the economic recession has curbed consumption. Imports in December fell by 5.5 per cent to $173.7bn, as consumers trimmed spending, following a plunge of 11.9 per cent the month before. Meanwhile, exports declined by 6 per cent to 133.8bn. The decline was the same as in November as exports were buoyed by a rise in aircraft shipments due to the end of the Boeing strike.