by Calculated Risk on 2/10/2010 08:49:00 AM
Wednesday, February 10, 2010
Trade Deficit increases to $40.2 Billion in December
The Census Bureau reports:
[T]otal December exports of $142.7 billion and imports of $182.9 billion resulted in a goods and services deficit of $40.2 billion, up from $36.4 billion in November, revised. December exports were $4.6 billion more than November exports of $138.1 billion. December imports were $8.4 billion more than November imports of $174.5 billion.
![U.S. Trade Exports Imports](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4Rb5oEl77Y1S-y3je0Uyp3sAkth6xiscjJihb8rrHGtkKQbS4d7mw-sBrBVgLuQVhNk_rEaWCZa5fS5u08ZJbOMLwBkV52lXxAMFmEeHEFbDFEkJ_oJOgZbzoC0iQb7P9qhBN/s320/TradeBalanceDec.jpg)
The first graph shows the monthly U.S. exports and imports in dollars through December 2009.
Both imports and exports increased in December. On a year-over-year basis, exports are up 7.4% and imports are up 4.6%. This is an easy comparison because of the collapse in trade at the end of 2008.
The second graph shows the U.S. trade deficit, with and without petroleum, through December.
![U.S. Trade Deficit](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhhDlLLdZrL7DV-O9hDGORxF-dUBd9uKkSw4Tftm0iXUL0S-VYXlTucc3gFrHuZOKxaIPMu9cyovRpbA5oYYrgjLAqPwGnDEiXK4REV4GKQ9d8M-QjtV8wWSn2Irb8iSA_B7fjI/s320/TradeDeficitDec.jpg)
Import oil prices increased to $73.20 in December - up 87% from the low in February (at $39.22). Oil import volumes were up sharply in December.
Overall trade continues to increase, although both imports and exports are still below the pre-financial crisis levels.