December 2016 Trade Gap is $44.3 Billion

The U.S. monthly international trade deficit decreased in December 2016 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $45.7 billion in November (revised) to $44.3 billion in December, as exports increased more than imports. The previously published November deficit was $45.2 billion. The goods deficit decreased $1.2 billion in December to $65.7 billion. The services surplus increased $0.3 billion in December to $21.4 billion.

balance-on-goods-and-services-trade-feb-7

Exports
Exports of goods and services increased $5.0 billion, or 2.7 percent, in December to $190.7 billion. Exports of goods increased $4.8 billion and exports of services increased $0.2 billion.

  • The increase in exports of goods mostly reflected increases in capital goods ($3.3 billion) and in industrial supplies and materials($0.7 billion).
  • The increase in exports of services reflected increases in transport ($0.1 billion), which includes freight and port services and passenger fares, and in travel (for all purposes including education) ($0.1 billion).

Imports
Imports of goods and services increased $3.6 billion, or 1.5 percent, in December to $235.0 billion. Imports of goods increased $3.6 billion and imports of services were nearly unchanged.

  • The increase in imports of goods mostly reflected increases in automotive vehicles, parts, and engines($1.6 billion), in industrial supplies and materials($1.1 billion), and in capital goods ($1.0 billion).
  • The change in each category for imports of services was less than $0.1 billion.

For more detailed information on trade by type of good or service and with major trading partners,see U.S. International Trade in Goods and Services: December 2016.

For more information, read the full report.


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