The US trade deficit in November came in 11% lower than estimates, following the October blowout, the largest since 2008. The US had a $49.3 billion deficit upown from $55.7 billion in October with imports falling. The deficit with China fell $2.8 billion to $35.4 Billion.
The US trade deficit in November came in 11% lower than estimates, following the October blowout, the largest since 2008. The US had a $49.3 billion deficit upown from $55.7 billion in October with imports falling. The deficit with China fell $2.8 billion to $35.4 Billion.
Highlights
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $49.3 billion in November down $6.4 billion from $55.7 billion in October, revised.
- Exports -.6%, imports – 2.9%
- Goods deficit $71.6B Down from $78.3B
- Services surplus +22.3B Down from +22.6B
- Exports $209.90B vs $211.20B in Oct
- Imports $259.2 vs $273.6B in Oct (record high in imports)
- US-China October deficit $43.1B vs $40.24B prior
- US- OPEC deficit $2.45B vs $1.98B prior
Exports
Exports of goods decreased $1.2 billion to $140.3 billion in November.
- Exports of goods on a Census basis decreased $1.2 billion.
- Industrial supplies and materials decreased $1.4 billion.
- Other petroleum products decreased $0.6 billion.
- Nonmonetary gold decreased $0.5 billion.
- Consumer goods decreased $0.9 billion.
- Gem diamonds decreased $0.5 billion.
- Pharmaceutical preparations decreased $0.4 billion.
- Capital goods increased $1.4 billion.
- Civilian aircraft increased $1.0 billion.
Net balance of payments adjustments increased less than $0.1 billion.
Exports of services decreased $0.1 billion to $69.5 billion in November.
- Financial services decreased $0.1 billion.
Imports
Imports of goods decreased $7.9 billion to $211.9 billion in November.
- Imports of goods on a Census basis decreased $7.9 billion.
- Consumer goods decreased $4.3 billion.
- Cell phones and other household goods decreased $2.3 billion.
- Artwork, antiques, stamps, and other collectibles decreased $0.4 billion.
- Industrial supplies and materials decreased $3.4 billion.
- Other petroleum products decreased $1.4 billion.
- Fuel oil decreased $0.8 billion.
- Crude oil decreased $0.7 billion.
Net balance of payments adjustments increased less than $0.1 billion.
Imports of services increased $0.2 billion to $47.3 billion in November.
- Travel (for all purposes including education) increased $0.3 billion.
- Insurance services decreased $0.1 billion.
Goods by Selected Countries and Areas:
The November figures show surpluses, in billions of dollars, with:
South and Central America ($4.8), Hong Kong ($2.6), United Kingdom ($0.9), Singapore ($0.8), and Brazil ($0.7). Deficits were recorded, in billions of dollars, with China ($35.4), European Union ($13.8), Mexico ($6.8), Japan ($5.7), Germany ($5.6), Italy ($2.7), South Korea ($1.9), India ($1.7), Taiwan ($1.6), Saudi Arabia ($1.5), France ($1.3), OPEC ($1.2), and Canada ($0.8).
Deficit in billions with;
The deficit with China decreased $2.8 billion to $35.4 billion in November. Exports decreased $0.1 billion to $7.4 billion and imports decreased $2.9 billion to $42.8 billion. The deficit with Canada decreased $1.3 billion to $0.8 billion in November. Exports decreased $0.4 billion to $24.5 billion and imports decreased $1.7 billion to $25.3 billion. The deficit with Taiwan increased $0.4 billion to $1.6 billion in November. Exports decreased $0.3 billion to $2.5 billion and imports increased $0.1 billion to $4.1 billion.
* * * All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified. Additional statistics, including not seasonally adjusted statistics and details for goods on a Census basis, are available in exhibits 1-20b of this release. For information on data sources, definitions, and revision procedures, see the explanatory notes in this release.
Source: bea
From The Traders Community News Desk