Research >> Economics
Goods and Services Deficit Decreases in December 2008
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The Nation’s international deficit in goods and services decreased to $677.1 billion in 2008 from $700.3 billion in 2007.
For December, the goods and services deficit decreased to $39.9 billion from $41.6 billion (revised) in November. Exports decreased $8.5 billion from November to $133.8 billion in December. Goods were $88.7 billion in December, down from $97.0 billion in November, and services were $45.1 billion in December, down from $45.3 billion in November. Imports decreased $10.2 billion from November to $173.7 billion in December. Goods were $140.3 billion in December, down from $150.3 billion in November, and services were $33.4 billion in December, down from $33.6 billion in November.
Goods and Services
The goods and services deficit was $677.1 billion in 2008, down from $700.3 billion in 2007. As a percentage of U.S. gross domestic product, the goods and services deficit was 4.7 percent in 2008, down from 5.1 percent in 2007.
Exports increased $197.2 billion to $1,843.0 billion in 2008. Goods were $1,291.3 billion and services were $551.6 billion.
Imports increased $174.1 billion to $2,520.1 billion in 2008. Goods were $2,112.5 billion and services were $407.6 billion.
For goods, the deficit was $821.2 billion in 2008, up from $819.4 billion in 2007. For services, the surplus was $144.1 billion in 2008, up from $119.1 billion in 2007.
Posted: February 11, 2009 Wednesday 08:30 AM