by Calculated Risk on 1/13/2012 08:48:00 AM
Friday, January 13, 2012
Trade Deficit increased in November to $47.8 Billion
The Department of Commerce reports:
[T]otal November exports of $177.8 billion and imports of $225.6 billion resulted in a goods and services deficit of $47.8 billion, up from $43.3 billion in October, revised. November exports were $1.5 billion less than October exports of $179.4 billion. November imports were $2.9 billion more than October imports of $222.6 billion.The trade deficit was above the consensus forecast of $45.0 billion.
The first graph shows the monthly U.S. exports and imports in dollars through November 2011.
![U.S. Trade Exports Imports](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj-nGLHtmSyTfWfbJWMycd7tw-enprp0O084opPKC5_tvUEKgq3H426_v3nmQ7bUiZ86T32tOrJV6zCycT_y8YkJvKOwXhoLxmJ3wSKRM18LX8VrK0w9TqtL1sdUE7FboZtA7kb/s320/TradeBalanceNov2011.jpg)
Exports decreased and imports increased in November. Imports had been mostly moving sideways for the past six months (seasonally adjusted). Exports are well above the pre-recession peak and up 10% compared to November 2010; imports are up about 13% compared to November 2010.
The second graph shows the U.S. trade deficit, with and without petroleum, through November.
![U.S. Trade Deficit](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVP7y6hwnUe_ea6xhOyQ5p5HSwqv88hhbHzymn5hJOLkaTW_TKESsW9SSt97GKvliZ3-bjgH4WK_d0FbPrBe-W7vWAvUFR-n95CG0yIXAeKJSbscjDYANMWfDOU9kSYL0du-i3/s320/TradeDeficitNov2011.jpg)
Oil averaged $102.50 per barrel in November. The trade deficit with China declined slightly to $27 billion.
Exports to eurozone countries declined 6.9% in November. And the trade deficit with the European Union widened to $9.7 billion from $7.2 billion in November 2010.