Trade Deficit Up Again as Exports Stall, Imports Rise

Trade statistics released Jan. 6 by the Department of Commerce show that the U.S. monthly trade deficit in goods and services rose 6.6 percent in November to $45.2 billion following a 17.7 percent jump in October. Exports slipped 0.5 percent to $185.8 billion while imports rose 1.0 percent to $231.1 billion. However, for the year to date the deficit was down 1.1 percent from 2015 due to a 2.4 percent decline in imports offsetting a 2.7 percent decrease in exports.

The goods deficit increased 5.4 percent to $66.6 billion in November. Imports of goods were up 1.4 percent to $189.0 billion, including an increase of $900 million in crude oil. Exports of goods were down 0.6 percent to $122.4 billion, including a $1.3 billion decrease in civilian aircraft as well as a $1.5 billion increase in industrial supplies and materials.

The services surplus grew 2.4 percent to $21.4 billion. Imports were down 0.7 percent to $42.1 billion and exports rose 0.5 percent to $63.5 billion.