US Trade Deficit Widens

2025-01-07 13:39 By Joana Taborda 1 min. read

The trade deficit in the US widened to $78.2 billion in November 2024 compared to a revised $73.6 billion gap in October and roughly in line with forecasts.

Imports rose 3.4% to $351.6 billion, the biggest gain since March 2022, led by purchases of foods, feeds, and beverages, semiconductors, passenger cars, civilian aircraft, nonmonetary gold and crude oil.

Meanwhile, exports rose 2.7% to a record high of $273.4 billion, led by sales of other petroleum products, passenger cars, pharmaceutical preparations, crude oil, plastic materials, trucks, buses, and special purpose vehicles and civilian aircraft engines.

The US deficit was little changed with China ($-25.4 billion vs $-25.5 billion) and Mexico ($-15.4 billion) but widened with the European Union ($-20.5 billion vs $-17.1 billion), namely Germany ($-6.9 billion vs $-5.4 billion) and France ($-2.2 billion vs $-0.09 billion), as well as with Vietnam ($-11.3 billion vs $-11 billion).



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