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Goods and Services Deficit Increased in November 2021
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The nation's international trade deficit in goods and services increased to $80.2 billion in November from $67.2 billion in October (revised), as imports increased more than exports. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $80.2 billion in November, up $13.0 billion from $67.2 billion in October, revised.
Exports, Imports, and Balance
November exports were $224.2 billion, $0.4 billion more than October exports. November imports were $304.4 billion, $13.4 billion more than October imports. The November increase in the goods and services deficit reflected an increase in the goods deficit of $15.1 billion to $99.0 billion and an increase in the services surplus of $2.1 billion to $18.8 billion. Year-to-date, the goods and services deficit increased $174.6 billion, or 28.6 percent, from the same period in 2020. Exports increased $354.4 billion or 18.2 percent. Imports increased $529.0 billion or 20.7 percent.
Three-Month Moving Averages
The average goods and services deficit increased $2.3 billion to $76.3 billion for the three months ending in November.
• Average exports increased $3.7 billion to $218.3 billion in November.
• Average imports increased $6.0 billion to $294.5 billion in November.
Year-over-year, the average goods and services deficit increased $11.7 billion from the three months ending in November 2020.
• Average exports increased $36.3 billion from November 2020.
• Average imports increased $48.0 billion from November 2020.
Posted: January 6, 2022 Thursday 08:30 AM