Market Updates
Trade Deficit Shrinks In November to 26-month Low After Imports Fall
Brian Turner
05 Jan, 2023
New York City
The U.S. trade deficit fell more than expected in November, according to the latest data from the U.S. Bureau of Economic Analysis.
International trade deficit of goods and services declined to $61.5 billion in November, down $16.3 billion from the revised $77.8 billion in October.
In November 2021, trade deficit was $77.97 billion.
Total exports of goods and services fell 2% to $251.9 billon and imports fell 6.4% to $313.4 billion.
The deficit with China fell $5.8 billion to $20.4 billion and the shortfall with the European Union narrowed $3.6 billion to $19.5 billion.
Year-to-date, the goods and services deficit increased 15.7% from a year ago to $120.1 billion.
Exports increased 18.9% to $439.4 billion and imports rose 18.1% to $559.5 billion.
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