Research >> Economics
Goods and Services Deficit increased in November 2023
|
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $63.2 billion in November, down $1.3 billion from $64.5 billion in October, revised.
Exports, Imports, and Balance
November exports were $253.7 billion, $4.8 billion less than October exports. November imports were $316.9 billion, $6.1 billion less than October imports.
The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $0.6 billion to $89.4 billion and an increase in the services surplus of $0.7 billion to $26.2 billion.
Year-to-date, the goods and services deficit decreased $161.8 billion, or 18.4 percent, from the same period in 2022. Exports increased $28.8 billion or 1.0 percent. Imports decreased $133.0 billion or 3.6 percent.
Three-Month Moving Averages
The average goods and services deficit increased $1.5 billion to $62.9 billion for the three months ending in November.
• Average exports decreased $0.6 billion to $257.9 billion in November.
• Average imports increased $0.9 billion to $320.9 billion in November.
Year-over-year, the average goods and services deficit decreased $8.3 billion from the three months ending in November 2022.
• Average exports increased $1.9 billion from November 2022.
• Average imports decreased $6.5 billion from November 2022.
Posted: January 9, 2024 Tuesday 08:30 AM