The monthly U.S. trade deficit in goods and services jumped 94.6 percent in November, the largest increase in more than 30 years, as imports soared and exports tumbled.
Imports of $348.9 billion in November were up 5.0 percent from October. Imports of goods rose 6.6 percent to $272.5 billion, with increases of $6.7 billion for pharmaceutical preparations, $6.6 billion for computers, and $2.0 billion for semiconductors along with decreases of $3.0 billion for computer accessories and $2.4 billion for industrial supplies and materials. Services imports edged down 0.1 percent to $76.3 billion.
Exports fell 3.6 percent to $292.1 billion in November. Exports of goods slumped 5.6 percent to $185.6 billion, with decreases of $4.2 billion for non-monetary gold, $2.9 billion for pharmaceutical preparations, and $2.6 billion for other precious metals. Services exports edged up 0.2 percent to an all-time high of $106.4 billion.
The monthly U.S. trade deficit increased from $29.2 billion in October to $56.8 billion in November. The deficit in goods trade gained a monthly record of 47.3 percent to $86.9 billion while the services trade surplus rose 1.0 percent to $30.1 billion.
For the year to date the U.S. trade deficit was up 4.1 percent from the same period in 2024 as imports rose 5.8 percent and exports gained 6.3 percent.
For the month of November 2025, trade deficits and surpluses with major trading partners were as follows.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
Mexico
|
$17.8 billion
|
-0.6
|
|
|
|
Vietnam
|
$16.2 billion
|
+8.0
|
|
|
|
Taiwan
|
$15.6 billion
|
-0.6
|
|
|
|
China
|
$14.7 billion
|
+7.3
|
|
|
|
European Union
|
$14.5 billion
|
+130.2
|
|
|
|
Germany
|
$7.4 billion
|
+45.1
|
|
|
|
Japan
|
$4.7 billion
|
+11.9
|
|
|
|
India
|
$4.4 billion
|
+91.3
|
|
|
|
South Korea
|
$3.7 billion
|
+27.6
|
|
|
|
France
|
$3.6 billion
|
+176.9
|
|
|
|
Canada
|
$3.5 billion
|
+52.2
|
|
|
|
Ireland
|
$3.0 billion
|
-6.7
|
|
|
|
Malaysia
|
$3.0 billion
|
+50.0
|
|
|
|
Italy
|
$3.0 billion
|
+500
|
|
|
|
Singapore
|
$1.1 billion
|
Shift from $1.8 billion surplus
|
|
|
|
Israel
|
$0.6 billion
|
-25.0
|
|
|
|
Switzerland
|
|
|
$7.8 billion
|
+6.8
|
|
Netherlands
|
|
|
$5.6 billion
|
+9.8
|
|
South/Central America
|
|
|
$5.1 billion
|
-8.9
|
|
United Kingdom
|
|
|
$4.2 billion
|
-38.2
|
|
Hong Kong
|
|
|
$2.2 billion
|
-21.4
|
|
Brazil
|
|
|
$2.1 billion
|
-22.2
|
|
Australia
|
|
|
$1.2 billion
|
-29.4
|
|
Belgium
|
|
|
$1.2 billion
|
+9.1
|
|
Saudi Arabia
|
|
|
$0.4 billion
|
+100
|
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