Research >> Economics
Goods and Services Deficit increased in December 2023
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The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $62.2 billion in December, up $0.3 billion from $61.9 billion in November, revised.
Exports, Imports, and Balance
December exports were $258.2 billion, $3.9 billion more than November exports. December imports were $320.4 billion, $4.2 billion more than November imports.
The December increase in the goods and services deficit reflected an increase in the goods deficit of $0.7 billion to $89.1 billion and an increase in the services surplus of $0.4 billion to $26.9 billion.
For 2023, the goods and services deficit decreased $177.8 billion, or 18.7 percent, from 2022. Exports increased $35.0 billion or 1.2 percent. Imports decreased $142.7 billion or 3.6 percent.
Three-Month Moving Averages
The average goods and services deficit increased $0.5 billion to $62.7 billion for the three months ending in December.
• Average exports decreased $1.0 billion to $257.0 billion in December.
• Average imports decreased $0.4 billion to $319.6 billion in December.
Year-over-year, the average goods and services deficit decreased $8.5 billion from the three months ending in December 2022.
• Average exports increased $4.1 billion from December 2022.
• Average imports decreased $4.4 billion from December 2022.
Posted: February 7, 2024 Wednesday 08:30 AM