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Goods and Services Deficit Decreased in November 2019
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The nation's international trade deficit in goods and services decreased to $43.1 billion in November from $46.9 billion in October (revised), as exports increased and imports decreased. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $43.1 billion in November, down $3.9 billion from $46.9 billion in October, revised.
Exports, Imports, and Balance
November exports were $208.6 billion, $1.4 billion more than October exports. November imports were $251.7 billion, $2.5 billion less than October imports. The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $3.9 billion to $63.9 billion and a decrease in the services surplus of less than $0.1 billion to $20.8 billion. Year-to-date, the goods and services deficit decreased $3.9 billion, or 0.7 percent, from the same period in 2018. Exports decreased less than $0.1 billion or less than 0.1 percent. Imports decreased $3.9 billion or 0.1 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $3.5 billion to $47.0 billion for the three months ending in November.
• Average exports decreased $0.2 billion to $207.8 billion in November.
• Average imports decreased $3.7 billion to $254.9 billion in November.
Year-over-year, the average goods and services deficit decreased $8.4 billion from the three months ending in November 2018.
• Average exports decreased $1.5 billion from November 2018.
• Average imports decreased $9.9 billion from November 2018.
Posted: January 7, 2020 Tuesday 08:30 AM