The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $45.2 billion in November, up $2.9 billion from $42.4 billion in October, revised. November exports were $185.8 billion, $0.4 billion less than October exports. November imports were $231.1 billion, $2.4 billion more than October imports.
The November increase in the goods and services deficit reflected an increase in the goods deficit of $3.4 billion to $66.6 billion and an increase in the services surplus of $0.5 billion to $21.4 billion.
Year-to-date, the goods and services deficit decreased $4.9 billion, or 1.1 percent, from the same period in 2015. Exports decreased $56.6 billion or 2.7 percent. Imports decreased $61.4 billion or 2.4 percent.
Exports of goods decreased $0.7 billion to $122.4 billion in November.
Exports of goods on a Census basis decreased $1.0 billion.
- Capital goods decreased $1.8 billion.
- Civilian aircraft decreased $1.3 billion.
- Industrial supplies and materials increased $1.5 billion.
Net balance of payments adjustments increased $0.3 billion.
Exports of services increased $0.3 billion to $63.5 billion in November.
- Financial services increased $0.2 billion.
- Travel (for all purposes including education) increased $0.1 billion.
Imports of goods increased $2.7 billion to $189.0 billion in November.
Imports of goods on a Census basis increased $2.5 billion.
- Industrial supplies and materials increased $2.2 billion.
- Crude oil increased $0.9 billion.
Net balance of payments adjustments increased $0.2 billion.
Imports of services decreased $0.3 billion to $42.1 billion in November.
- Travel (for all purposes including education) decreased $0.2 billion.
- Transport, which includes freight and port services and passenger fares, decreased $0.1 billion.
The November figures show surpluses, in billions of dollars, with Hong Kong ($2.5), South and Central America ($2.4), Singapore ($1.0), Brazil ($0.8), and United Kingdom ($0.1). Deficits were recorded, in billions of dollars, with China ($28.4), European Union ($13.8), Japan ($5.7), Mexico ($5.7), Germany ($5.3), Canada ($3.2), Italy ($2.2), South Korea ($2.2), OPEC ($1.9), India ($1.8), Taiwan ($1.3), France ($1.3), and Saudi Arabia ($0.2).
- The deficit with Canada increased $1.5 billion to $3.2 billion in November. Exports decreased $0.7 billion to $21.3 billion and imports increased $0.9 billion to $24.5 billion.
- The deficit with the European Union increased $0.9 billion to $13.8 billion in November. Exports decreased $1.3 billion to $21.0 billion and imports decreased $0.4 billion to $34.8 billion.
- The surplus with Brazil increased $0.7 billion to $0.8 billion in November. Exports increased $0.7 billion to $3.2 billion and imports decreased less than $0.1 billion to $2.4 billion.
NOTE: All statistics referenced are seasonally adjusted; statistics are on a balance of payments basis unless otherwise specified.