by Calculated Risk on 2/10/2012 08:50:00 AM
Friday, February 10, 2012
Trade Deficit increased in December to $48.8 Billion
The Department of Commerce reports:
[T]otal December exports of $178.8 billion and imports of $227.6 billion resulted in a goods and services deficit of $48.8 billion, up from $47.1 billion in November, revised. December exports were $1.2 billion more than November exports of $177.5 billion. December imports were $3.0 billion more than November imports of $224.6 billion.The trade deficit was slightly above the consensus forecast of $48.5 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/AVvXsEigTTnXvwMG2aWUFrTfCNZDxF249BFATwEZeMwYXCb5BDH8Fqz5ZuMLfhFXpPy2s_bpHZ_2J3vzuFjj3tZXK2BMlpDqkoPmaFkJXe3OEODXrzZ2PRvCZIGVASdaYYmhqfDJhypI/s320/TradeBalanceDec2011.jpg)
Both exports and imports increased in December. Imports stalled in the middle of 2011, but increased towards the end of the year (seasonally adjusted). Exports are well above the pre-recession peak and up 9% compared to December 2010; imports are up about 11% compared to December 2010.
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/AVvXsEhDvgYDqSaIsSWMSPw_PKJbYC4aukKJkGIsB4-7a55-NPjluYkPdXwimsEo31t-MYvsZyOg-gZ3MnyIT2IO4M5rG_xHukxMQt_dMljDpQ5k4_3nRtkENoA4d7q6S-BpYoBv_TqT/s320/TradeDeficitDec2011.jpg)
Oil averaged $104.13 per barrel in December. The trade deficit with China declined to $23 billion, but hit an annual record in 2011.
Exports to eurozone countries increased slightly in December after declining sharply in November.