The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $98.4 billion in December, up $19.5 billion from $78.9 billion in November, revised.
The December increase in the goods and services deficit reflected an increase in the goods deficit of $18.9 billion to $123.0 billion and a decrease in the services surplus of $0.6 billion to $24.5 billion.
December exports were $266.5 billion, $7.1 billion less than November exports. December imports were $364.9 billion, $12.4 billion more than November imports.
For 2024, the goods and services deficit increased $133.5 billion, or 17.0 percent, from 2023. Exports increased $119.8 billion or 3.9 percent. Imports increased $253.3 billion or 6.6 percent.
The average goods and services deficit increased $4.7 billion to $83.8 billion for the three months ending in December. Average exports decreased $1.2 billion to $268.8 billion in December, while average imports increased $3.5 billion to $352.7 billion. Year-over-year, the average goods and services deficit increased $19.2 billion from the three months ending in December 2023.
Read the Census release.