U.S. INTERNATIONAL TRADE IN GOODS AND SERVICES

February 6, 2018

US international trade deficit has expanded for the month of December of last year when compare to November 2017. The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the U.S. goods and services deficit was $53.1 billion in December, up $2.7 billion from $50.4 billion in November.  Exports in December increased 1.75% to 203.4 $billion when compared to November figures. On the other hand, U.S. imports the month of December  were $256.5 billion, $6.2 billion or 2.48% increase more than November imports.

The goods and services deficit increased for December 2017 reflecting a growth in the goods deficit by $2.6 billion to $73.3 billion and a decline in the services surplus of $0.1 billion to $20.2 billion.

For the calendar year ended December 2017,  the goods and services deficit rose $61.2 billion, or 12.1%, from 2016. Exports rose $121.2 billion or 5.5%, while imports climbed $182.5 billion or 6.7%.

Goods and Services Three-Month Moving Averages

The average goods and services deficit increased $2.8 billion to $50.8 billion for the three months ending in December.

  • Average exports of goods and services increased $2.6 billion to $199.5 billion in December.
  • Average imports of goods and services increased $5.4 billion to $250.3 billion in December.

Year-over-year, the average goods and services deficit increased $6.1 billion from the three months ending in December 2016.

  • Average exports of goods and services increased $12.8 billion from December 2016.
  • Average imports of goods and services increased $19.0 billion from December 2016.

 

Detail break down of exports

Exports of goods increased $3.4 billion to $137.5 billion in December.

  • Industrial supplies and materials increased $1.5 billion.
  1. Organic chemicals increased $0.2 billion.
  2. Fuel oil increased $0.2 billion.
  • Capital goods increased $1.2 billion.
  1. Civilian aircraft increased $0.8 billion.
  2. Other industrial machines increased $0.7 billion.

Exports of services increased $0.1 billion to $65.9 billion in December.

  • Travel (for all purposes including education) increased $0.1 billion.
  • Maintenance and repair services increased $0.1 billion.
  • Transport decreased $0.1 billion.

Detail break down of imports

Imports of goods increased $6.0 billion to $210.8 billion in December.

  • Consumer goods increased $3.2 billion.
  1. Pharmaceutical preparations increased $1.8 billion.
  2. Cell phones and other household goods increased $1.7 billion.
  • Automotive vehicles, parts, and engines increased $1.1 billion.
  1. Passenger cars increased $1.1 billion.
  • Capital goods increased $0.8 billion.

Imports of services increased $0.3 billion to $45.7 billion in December.

  • Travel (for all purposes including education) increased $0.2 billion.
  • Charges for the use of intellectual property increased $0.1 billion.
2018-02-06T15:35:19+00:00