Research >> Economics
Goods and Services Deficit Increased in November 2012
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The Nation’s international trade deficit in goods and services increased to $48.7 billion in November from $42.1 billion in October (revised), as imports increased more than exports.
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total November exports of $182.6 billion and imports of $231.3 billion resulted in a goods and services deficit of $48.7 billion, up from $42.1 billion in October, revised. November exports were $1.7 billion more than October exports of $180.8 billion. November imports were $8.4 billion more than October imports of $222.9 billion.
In November, the goods deficit increased $6.6 billion from October to $65.7 billion, and the services surplus was virtually unchanged from October at $17.0 billion. Exports of goods increased $1.6 billion to $129.3 billion, and imports of goods increased $8.2 billion to $195.0 billion. Exports of services increased $0.1 billion to $53.2 billion, and imports of services increased $0.2 billion to $36.3 billion.
The goods and services deficit decreased $0.1 billion from November 2011 to November 2012. Exports were up $5.8 billion, or 3.3 percent, and imports were up $5.7 billion, or 2.5 percent.
Posted: January 11, 2013 Friday 08:37 AM