Archive for January, 2014



November 2013 Trade Gap is $34.3 Billion

The U.S. monthly international trade deficit decreased in November 2013 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $39.3 billion in October (revised) to $34.3 billion in November as exports increased and imports decreased. The previously published October deficit was $40.6 billion. The goods deficit decreased $4.9 billion from October to $53.9 billion in November; the services surplus increased $0.2 billion from October to $19.7 billion in November.trade17

Exports
Exports of goods and services increased $1.7 billion in November to $194.9 billion, mostly reflecting an increase in exports of goods. Exports of services also increased.
• The increase in exports of goods mostly reflected increases in industrial supplies and materials, in other goods, and in capital goods that were partly offset by a decrease in consumer goods.
• The increase in exports of services mostly reflected increases in travel, in passenger fares, and in royalties and license fees.

Imports
Imports of goods and services decreased $3.4 billion in November to $229.1 billion, reflecting a decrease in imports of goods. Imports of services increased.
• The decrease in imports of goods mostly reflected decreases in industrial supplies and materials and in other goods that were partly offset by increases in automotive vehicles, parts, and engines and in capital goods.
• The increase in imports of services mostly reflected increases in other transportation, which includes freight and port services, and in other private services, which includes items such as business, professional, and technical services, insurance services, and financial services.

Goods by geographic area (not seasonally adjusted)
• The goods deficit with the European Union decreased from $14.3 billion in October to $10.1 billion in November. Exports decreased $0.2 billion to $22.9 billion, and imports decreased $4.4 billion to $33.0 billion.
• The goods deficit with China decreased from $28.9 billion in October to $26.9 billion in November. Exports increased $0.1 billion to $13.2 billion, and imports decreased $1.8 billion to $40.1 billion.
• The goods deficit with Canada decreased from $2.8 billion in October to $1.5 billion in November. Exports decreased $1.3 billion to $25.7 billion, and imports decreased $2.7 billion to $27.1 billion.

To learn more about U.S. international trade in goods and services, read the full report.