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Goods and Services Deficit Increased in November 2020
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The nation's international trade deficit in goods and services increased to $68.1 billion in November from $63.1 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 $68.1 billion in November, up $5.0 billion from $63.1 billion in October, revised.
Exports, Imports, and Balance
November exports were $184.2 billion, $2.2 billion more than October exports. November imports were $252.3 billion, $7.2 billion more than October imports. The November increase in the goods and services deficit reflected an increase in the goods deficit of $5.0 billion to $86.4 billion and a decrease in the services surplus of less than $0.1 billion to $18.2 billion. Year-to-date, the goods and services deficit increased $73.6 billion, or 13.9 percent, from the same period in 2019. Exports decreased $372.3 billion or 16.1 percent. Imports decreased $298.7 billion or 10.5 percent.
Three-Month Moving Averages
The average goods and services deficit increased $1.1 billion to $64.4 billion for the three months ending in November.
• Average exports increased $3.4 billion to $181.4 billion in November.
• Average imports increased $4.5 billion to $245.9 billion in November.
Year-over-year, the average goods and services deficit increased $20.5 billion from the three months ending in November 2019.
• Average exports decreased $28.7 billion from November 2019.
• Average imports decreased $8.2 billion from November 2019.
Posted: January 7, 2021 Thursday 08:30 AM