The monthly U.S. trade deficit in goods and services edged up 0.5 percent in December as imports and exports both increased. For all of 2023 the total U.S. trade deficit was down 18.7 percent, with exports up 1.2 percent and imports down 3.6 percent.
Imports rose 1.3 percent, to $320.4 billion, from November to December. Imports of goods were up 1.5 percent to $260.3 billion, with increases of $1.5 billion for pharmaceutical preparations, $1.0 billion for cell phones and other household goods, and $400 million for fuel oil. Services imports gained 0.8 percent to $60.1 billion.
Exports increased 1.5 percent in December to $258.2 billion. Exports of goods were up 1.8 percent to $171.2 billion, with increases of $900 million for non-monetary gold, $800 million for other petroleum products, and $700 million for foods, feeds, and beverages. Services exports advanced 0.9 percent to $87.0 billion.
With exports and imports both up, the monthly U.S. trade deficit increased from $61.9 billion in November to $62.2 billion in December. The deficit in goods trade was up 0.8 percent to $89.1 billion while the services trade surplus rose 1.5 percent to $26.9 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$22.8 billion
|
+6.1
|
|
|
|
European Union
|
$17.6 billion
|
+12.8
|
|
|
|
Mexico
|
$13.7 billion
|
-0.7
|
|
|
|
Vietnam
|
$10.0 billion
|
+3.1
|
|
|
|
Germany
|
$7.2 billion
|
+28.6
|
|
|
|
Ireland
|
$5.7 billion
|
+29.5
|
|
|
|
Canada
|
$5.5 billion
|
-29.5
|
|
|
|
Japan
|
$5.2 billion
|
-26.8
|
|
|
|
South Korea
|
$5.0 billion
|
+42.9
|
|
|
|
India
|
$4.3 billion
|
+7.5
|
|
|
|
Taiwan
|
$3.3 billion
|
-28.3
|
|
|
|
Italy
|
$3.2 billion
|
-11.1
|
|
|
|
Switzerland
|
$2.5 billion
|
+8.7
|
|
|
|
Malaysia
|
$2.2 billion
|
+29.4
|
|
|
|
France
|
$1.0 billion
|
+66.7
|
|
|
|
Israel
|
$0.2 billion
|
-50.0
|
|
|
|
Saudi Arabia
|
$0.1 billion
|
0
|
|
|
|
Brazil
|
$0.1 billion
|
Shift from <$0.1 billion surplus
|
|
|
|
South/Central America
|
|
|
$4.7 billion
|
+14.6
|
|
Netherlands
|
|
|
$4.4 billion
|
+46.7
|
|
United Kingdom
|
|
|
$1.9 billion
|
+216.7
|
|
Australia
|
|
|
$1.8 billion
|
+28.6
|
|
Hong Kong
|
|
|
$1.6 billion
|
-11.1
|
|
Singapore
|
|
|
$1.2 billion
|
+200.0
|
|
Belgium
|
|
|
$0.5 billion
|
+150.0
|
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