The U.S. trade deficit in goods and services rose 7.9 percent in November to $68.1 billion, the highest in 14 years, as imports and exports both increased for the sixth straight month.
According to trade statistics from the Department of Commerce, the monthly trade deficit of $68.1 billion reflected a 1.2 percent increase in exports to $184.2 billion and a 2.9 percent increase in imports to $252.3 billion. The year-to-date deficit was up 13.9 percent from November 2019 as exports fell 16.1 percent and imports dropped 10.5 percent.
The deficit in goods trade jumped 6.1 percent from October to $86.4 billion. Imports of goods rose 3.0 percent to $214.1 billion, including increases of $2.8 billion in cell phones and other household goods, $1.5 billion in industrial supplies and materials, and $1.2 billion in capital goods along with a $1.1 billion decrease in passenger cars. Exports of goods were up 1.0 percent to $127.7 billion, including increases of $500 million each in natural gas and foods, feeds, and beverages.
The services surplus fell 0.5 percent to $18.2 billion. Imports rose 2.4 percent to $38.2 billion and exports gained 1.6 percent to $56.4 billion.
Monthly changes in U.S. trade deficits or surpluses with specific trading partners in November included the following.
Country/region
|
Deficit
|
% Change
|
Surplus
|
% Change
|
China
|
$30.0 billion
|
+13.2
|
|
|
European Union
|
$16.7 billion
|
+7.1
|
|
|
Mexico
|
$11.3 billion
|
-4.2
|
|
|
Japan
|
$6.6 billion
|
+15.8
|
|
|
Germany
|
$4.9 billion
|
-5.8
|
|
|
Italy
|
$3.5 billion
|
+40.0
|
|
|
Taiwan
|
$3.0 billion
|
n/a
|
|
|
South Korea
|
$2.9 billion
|
-3.3
|
|
|
India
|
$2.4 billion
|
-7.7
|
|
|
Canada
|
$1.7 billion
|
+30.8
|
|
|
France
|
$1.7 billion
|
+88.9
|
|
|
South/Central America
|
|
|
$3.0 billion
|
+36.4
|
Hong Kong
|
|
|
$1.8 billion
|
-5.3
|
Brazil
|
|
|
$1.2 billion
|
+140.0
|
United Kingdom
|
|
|
$1.1 billion
|
-15.4
|
Saudi Arabia
|
|
|
$0.2 billion
|
-71.4
|
Singapore
|
|
|
$0.2 billion
|
Shift from a <$0.1 billion deficit
|
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