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Trade Deficit Narrowed by $16.3B in November

Trade Deficit Narrowed by $16.3B in November

January 05, 2023 from Floor Focus FloorDaily News

Washington, DC, January 5, 2023 – The goods and services deficit was $61.5 billion in November, down $16.3 billion from $77.8 billion in October, revised, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis.

November exports were $251.9 billion, $5.1 billion less than October exports. November imports were $313.4 billion, $21.5 billion less than October imports.

The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $15.3 billion to $84.1 billion and an increase in the services surplus of $1.0 billion to $22.5 billion.

Year-to-date, the goods and services deficit increased $120.1 billion, or 15.7%, from the same period in 2021. Exports increased $439.4 billion or 18.9%. Imports increased $559.5 billion or 18.1%.

Related Topics:U.S. Census Bureau

Donato Pompo

Donato Pompo, CTC CMR CSI CDT MBA, is the leading tile and stone forensic expert and consultant in North America, and he is a National Tile Contractors Association Recognized Consultant. Donato is the founder of CTaSC.