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Goods and Services Deficit Increased in December 2021
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The nation's international trade deficit in goods and services increased to $80.7 billion in December from $79.3 billion in November (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 $80.7 billion in December, up $1.4 billion from $79.3 billion in November, revised.
Exports, Imports, and Balance
December exports were $228.1 billion, $3.4 billion more than November exports. December imports were $308.9 billion, $4.8 billion more than November imports. The December increase in the goods and services deficit reflected an increase in the goods deficit of $3.2 billion to $101.4 billion and an increase in the services surplus of $1.8 billion to $20.7 billion. For 2021, the goods and services deficit increased $182.4 billion, or 27.0 percent, from 2020. Exports increased $394.1 billion or 18.5 percent. Imports increased $576.5 billion or 20.5 percent.
Three-Month Moving Averages
The average goods and services deficit decreased less than $0.1 billion to $75.5 billion for the three months ending in December.
• Average exports increased $7.1 billion to $225.6 billion in December.
• Average imports increased $7.0 billion to $301.2 billion in December.
Year-over-year, the average goods and services deficit increased $9.9 billion from the three months ending in December 2020.
• Average exports increased $39.4 billion from December 2020.
• Average imports increased $49.3 billion from December 2020.
Posted: February 8, 2022 Tuesday 08:30 AM