Research >> Economics
Goods and Services Deficit increased in December 2022
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The nation's international trade deficit in goods and services increased to $67.4 billion in December from $61.0 billion in November (revised), as exports decreased and imports increased. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $67.4 billion in December, up $6.4 billion from $61.0 billion in November, revised.
December exports were $250.2 billion, $2.2 billion less than November exports. December imports were $317.6 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 $7.4 billion to $90.6 billion and an increase in the services surplus of $1.0 billion to $23.2 billion.
For 2022, the goods and services deficit increased $103.0 billion, or 12.2 percent, from 2021. Exports increased $453.1 billion or 17.7 percent. Imports increased $556.1 billion or 16.3 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $2.1 billion to $68.6 billion for the three months ending in December.
• Average exports decreased $2.6 billion to $253.0 billion in December.
• Average imports decreased $4.7 billion to $321.6 billion in December.
Year-over-year, the average goods and services deficit decreased $6.4 billion from the three months ending in December 2021.
• Average exports increased $24.2 billion from December 2021.
• Average imports increased $17.8 billion from December 2021.
Posted: February 7, 2023 Tuesday 08:30 AM