The monthly U.S. trade deficit in goods and services reversed a recent trend and fell slightly in November, down 2.0 percent, as exports and imports both declined. For the year to date the total U.S. trade deficit was down 18.4 percent from the same period in 2022, with exports up 1.0 percent and imports down 3.6 percent.
Imports slid 1.9 percent, to $316.9 billion, from October to November. Imports of goods were down 2.3 percent to $257.4 billion, with decreases of $1.9 billion for cell phones and other household goods, $1.4 billion for drugs, and $700 million for drilling and oilfield equipment, along with an increase of $1.5 billion for crude oil. Services imports lost 0.2 percent to $59.6 billion.
Exports fell 1.9 percent in November to $253.7 billion. Exports of goods were down 3.1 percent to $168.0 billion, with decreases of $1.9 billion for non-monetary gold, $1.0 billion for crude oil, and $700 million for organic chemicals. Services exports advanced 0.7 percent to $85.7 billion.
With exports and imports both down, the monthly U.S. trade deficit decreased from $64.5 billion in October to $63.2 billion in November. The deficit in goods trade was down 0.7 percent to $89.4 billion while the services trade surplus rose 2.7 percent to $26.2 billion.
|
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
|
China
|
$21.5 billion
|
-10.0
|
|
|
|
European Union
|
$15.6 billion
|
-18.8
|
|
|
|
Mexico
|
$13.8 billion
|
+16.0
|
|
|
|
Vietnam
|
$9.7 billion
|
+4.3
|
|
|
|
Canada
|
$7.8 billion
|
+6.8
|
|
|
|
Japan
|
$7.1 billion
|
+7.6
|
|
|
|
Germany
|
$5.6 billion
|
-25.3
|
|
|
|
Taiwan
|
$4.6 billion
|
-9.8
|
|
|
|
Ireland
|
$4.4 billion
|
-24.1
|
|
|
|
India
|
$4.0 billion
|
+17.6
|
|
|
|
Italy
|
$3.6 billion
|
-10.0
|
|
|
|
South Korea
|
$3.5 billion
|
-7.9
|
|
|
|
Switzerland
|
$2.3 billion
|
+566.7
|
|
|
|
Malaysia
|
$1.7 billion
|
-15.0
|
|
|
|
France
|
$0.6 billion
|
-33.3
|
|
|
|
Israel
|
$0.4 billion
|
-33.3
|
|
|
|
Saudi Arabia
|
$0.1 billion
|
-50
|
|
|
|
South/Central America
|
|
|
$4.1 billion
|
+10.8
|
|
Netherlands
|
|
|
$3.0 billion
|
-21.1
|
|
Hong Kong
|
|
|
$1.8 billion
|
-5.3
|
|
Australia
|
|
|
$1.4 billion
|
+7.7
|
|
United Kingdom
|
|
|
$0.6 billion
|
+200.0
|
|
Singapore
|
|
|
$0.4 billion
|
+100.0
|
|
Belgium
|
|
|
$0.2 billion
|
-75.0
|
|
Brazil
|
|
|
<$0.1 billion
|
n/a
|
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