International Trade Gap Widened to Nearly a Six-Year High in November

The U.S. international trade deficit widened in November, growing 3.2% to $50.5 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. This was the highest level since January 2012. Imports increased 2.5%, while exports grew 2.3%. October’s trade deficit was upwardly revised from $48.7 billion to $48.9 billion.

The goods deficit increased 2.4% to $70.9 billion, while the services surplus grew slightly to $20.4 billion.

Exports of goods rose 3.4% to $134.6 billion in November. Exports of services grew 0.1% to $65.7 billion.

Imports of goods increased 3.0% to $205.5 billion. Imports of services were virtually unchanged at $45.3 billion.

Read the Census/BEA release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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