US Exports Down to 4-Month Low

Exports in the US were down 1.7% month-over-month to $287.3 billion in December 2025, the lowest in four months, led by a big fall in nonmonetary gold while sales increased for semiconductors, pharmaceutical preparations and travel. Considering full 2025, exports increased 6.2% to $3,432.3 billion, with nonmonetary gold recording the biggest rise, followed by finished metal shapes, charges for the use of intellectual property and natural gas.

US exports of goods and services fell by $10.9 billion, or 3.6%, to $292.1 billion in November 2025, retreating from the all-time high of $303.0 billion recorded in October. Goods exports dropped $11.1 billion to $185.6 billion, led by a $6.1 billion fall in industrial supplies and materials, particularly nonmonetary gold, other precious metals, and crude oil. Exports of consumer goods also decreased by $3.1 billion, largely due to weaker pharmaceutical shipments, while other goods exports fell by $1.3 billion. By contrast, services exports edged up $0.2 billion to $106.4 billion, supported by travel, charges for the use of intellectual property, and other business services, although government goods and services and financial services declined.

US exports of goods and services rose 2.6% to $302 billion in October 2025, the highest value on record. Goods exports increased by $7.1 billion to $195.9 billion, driven largely by a $6.8 billion increase in nonmonetary gold and a $3.6 billion increase in Other precious metals, while exports of pharmaceutical preparations fell by $0.9 billion. Services exports increased by $0.7 billion to $106.1 billion in October. Travel services rose by $0.4 billion, charges for the use of intellectual property went up by $0.2 billion, and other business services increased $0.2 billion.