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Goods and Services Deficit Increased in December 2019
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The nation's international trade deficit in goods and services increased to $48.9 billion in December from $43.7 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 $48.9 billion in December, up $5.2 billion from $43.7 billion in November, revised.
Exports, Imports, and Balance
December exports were $209.6 billion, $1.6 billion more than November exports. December imports were $258.5 billion, $6.8 billion more than November imports. The December increase in the goods and services deficit reflected an increase in the goods deficit of $5.1 billion to $69.7 billion and a decrease in the services surplus of $0.1 billion to $20.8 billion. For 2019, the goods and services deficit decreased $10.9 billion, or 1.7 percent, from 2018. Exports decreased $1.5 billion or 0.1 percent. Imports decreased $12.5 billion or 0.4 percent.
Three-Month Moving Averages
The average goods and services deficit decreased $0.9 billion to $46.6 billion for the three months ending in December.
• Average exports increased $0.9 billion to $208.2 billion in December.
• Average imports decreased less than $0.1 billion to $254.8 billion in December.
Year-over-year, the average goods and services deficit decreased $10.4 billion from the three months ending in December 2018.
• Average exports increased $0.2 billion from December 2018.
• Average imports decreased $10.2 billion from December 2018.
Posted: February 5, 2020 Wednesday 08:30 AM