Higher oil prices inflated imports in December, widening the U.S. trade gap for the first time in four months.

The U.S. deficit in international trade of goods and services increased 5.3% to US$61.18 billion from US$58.12 billion in November, the U.S. Commerce Department reported today. November’s shortfall was previously estimated at US$58.23 billion.

It is the first rise in the U.S. trade deficit since August, when the deficit reached a record high, and brings the annual 2006 trade shortfall up 6.5% to an all-time high of US$763.59 billion.

The December trade deficit was a bit higher than Wall Street had expected. Economists had forecast a deficit of US$59.5 billion.

During December, a 2.1% gain in imports outpaced a 0.6% rise in the value of U.S. exports. The value of U.S. imports rose to US$186.72 billion from US$182.92 billion in November, primarily because of higher oil prices.

The average price of a barrel of oil rose US$1.59 to US$53.84 for the month, offsetting a decline in the volume of imported oil and petroleum products. The volume of imported crude slipped to 293.54 million barrels from 299.40 million in November. The volume of total energy-related petroleum imports fell to 380.86 million barrels from 381.23 million barrels for the month.

The nation’s bill for all energy-related petroleum products increased to US$20.89 billion from November’s US$20.24 billion.

U.S. demand for foreign-made autos also added US$1.51 billion to the deficit, while imports of industrial supplies, which includes oil, added US$1.64 billion. Imports of consumer goods were up, while imports of capital goods, like computers and electronic equipment fell.

U.S. exports rose to a record US$125.54 billion in December amid gains in sales of American-grown wheat, fruit and other agriculture products, and higher shipments of U.S.-made automobiles and parts. Exports of consumer goods rose, while U.S. sales of high-value aircraft eased following a big jump in November.

The U.S. trade deficit with China narrowed to US$19 billion from US$22.92 billion in December, bringing the annual U.S. trade deficit with China to US$232.55 billion.

The deficit with Japan shrank to US$7.46 billion from US$7.90 billion. The trade gap with Canada rose to US$5.57 billion from US$5.17 billion. The deficit with Mexico fell to US$5.01 billion from US$5.44 billion.