U.S. Foreign Trade Deficit Widened in December

The U.S. international trade deficit widened in December to $43.4 billion, up $1.1 billion from November. The widening of the balance was driven by a $0.5 billion decrease in exports, along with a $0.6 billion increase in imports.

The goods deficit increased $1.3 billion to $62.5 billion, while the services surplus increased $0.1 billion to $19.2 billion.

Exports of goods fell $0.8 billion to $121.2 billion, driven by a $0.6 billion decrease in automotive vehicles and parts, and a $0.4 billion decrease in Industrial supplies and materials. Exports of services increased $0.3 billion to $60.3 billion, as financial services, and other services such as research and development increased.

Imports of goods increased $0.5 billion to $183.7 billion, largely due to a $1.0 billion increase in imports of automotive vehicles and parts. Industrial supplies and materials also increased by $0.5 billion. Imports of services grew $0.1 billion, due to an increase in travel and business services.

Read the Census/BEA release.