Market Updates
U.S. Trade Deficit Narrowed in November
Brian Turner
09 Jan, 2024
New York City
The U.S. international trade deficit narrowed to $63.2 billion in November from $64.5 billion in October, the Bureau of Economic Analysis reported Tuesday.
The goods deficit declined $0.6 billion to $89.4 billion, and the service surplus rose $0.7 billion to 26.2 billion.
Total exports decreased by 1.9% to $253.7 billion, and total imports declined by the same amount to $316.9 billion.
Year-to-date, the goods and services deficit decreased $161.8 billion, or 18.4%, from the same period in 2022.
Exports increased $28.8 billion, or 1.0%, and imports decreased $133.0 billion, or 3.6%.
The deficit with China declined by $2.4 billion to $21.5 billion and with the European Union by $3.5 billion to $15.6 billion, but rose by $2.0 billion to $2.3 billion.
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