January 06, 2022

The goods and services deficit in November was $80.2 billion, up $13.0 billion from $67.2 billion in October, according to the U.S. Census Bureau and the Bureau of Economic Analysis.

November exports totaled $224.2 billion, a $0.4 billion increase over October exports. November imports totaled $304.4 billion, a $13.4 billion increase over October imports.

The November increase in the goods and services deficit reflected a $15.1 billion increase in the goods deficit to $99.0 billion and a $2.1 billion gain in the services surplus to $18.8 billion.

The goods and services deficit has climbed by $174.6 billion, or 28.6%, year to date compared to the same period in 2020. Furthermore, exports climbed by $354.4 billion, or 18.2%, and imports climbed by $529.0 billion, or 20.7%.

For the three months ending in November, the average goods and services deficit climbed by $2.3 billion to $76.3 billion. The average goods and services deficit climbed $11.7 billion year on year for the three months ended in November 2020.

In November, goods exports fell by $2.9 billion to $155.9 billion. Of goods exported, the value of industrial supplies and materials fell by $0.9 billion whereas capital goods fell by $1.2 billion. Moreover, service exports climbed $3.2 billion to $68.3 billion in November.

Imports of goods climbed by $12.3 billion in November to $254.9 billion. As for imports, the value of consumer products grew by $3 billion, industrial supplies and materials grew by $5.9 billion whereas automotive vehicles, parts, and engines grew by $1.2 billion. Besides, in November, service imports grew by $1.1 billion to $49.5 billion.

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