US Trade Deficit Shrinks in November


U.S. trade gap fell 12.9 percent to $34.3 billion in November, the smallest in four years. Exports hit a record high of $194.9 billion and imports declined to $229 billion.


Total November exports of $194.9 billion and imports of $229.1 billion resulted in a goods and services deficit of $34.3 billion, down from $39.3 billion in October, revised. November exports were $1.7 billion more than October exports of $193.1 billion. November imports were $3.4 billion less than October imports of $232.5 billion.

The goods and services deficit decreased $12.2 billion from November 2012 to November 2013. Exports were up $9.6 billion, or 5.2 percent, and imports were down $2.5 billion, or 1.1 percent.

The October to November increase in exports of goods reflected increases in industrial supplies and materials ($0.7 billion); other goods ($0.5 billion); capital goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.1 billion). Decreases occurred in consumer goods ($0.5 billion) and  foods, feeds, and beverages ($0.1 billion).

The October to November decrease in imports of goods reflected decreases in industrial supplies and materials ($4.3 billion); other goods ($0.8 billion); foods, feeds, and beverages ($0.3 billion); and consumer goods ($0.1 billion).  Increases occurred in automotive vehicles, parts, and engines ($1.1 billion) and capital goods ($0.9 billion).

The November 2012 to November 2013 increase in exports of goods reflected increases in industrial supplies and materials ($3.1 billion); capital goods ($1.2 billion); foods, feeds, and beverages ($1.1 billion); automotive vehicles, parts, and engines ($0.8 billion); other goods ($0.6 billion); and consumer goods ($0.5 billion).

The November 2012 to November 2013 decrease in imports of goods reflected decreases in industrial supplies and materials ($6.9 billion); other goods ($0.3 billion); and consumer goods ($0.3 billion). Increases occurred in capital goods ($2.2 billion); automotive vehicles, parts, and engines ($1.6 billion); and foods, feeds, and beverages ($0.2 billion).

The November figures show surpluses, in billions of dollars, with Hong Kong $2.9 ($2.8 for October), Australia $1.2 ($1.4), Singapore $1.2 ($1.2), and Brazil $1.1 ($1.7). Deficits were recorded, in billions of dollars, with China $26.9 ($28.9), European Union $10.1 ($14.3), Germany $5.9 ($6.9), Japan $5.8 ($6.4), OPEC $4.8 ($5.6), Mexico $4.1 ($4.1), Saudi Arabia $2.9 ($3.1), Ireland $1.8  ($3.2), Venezuela $1.5 ($1.9), Canada $1.5 ($2.8), Korea $1.2 ($1.7), and India $1.0 ($2.0).

Advanced technology products exports were $28.0 billion in November and imports were $37.3 billion, resulting in a deficit of $9.3 billion. November exports were $0.3 billion more than the $27.7 billion in October, while November imports were $0.3 billion less than the $37.5 billion in October.


US Trade Deficit Shrinks in November


U.S. Census Bureau | anna@tradingeconomics.com
1/7/2014 1:51:16 PM