by Calculated Risk on 1/06/2016 08:40:00 AM
Wednesday, January 06, 2016
Trade Deficit Decreased in November to $42.4 Billion
The Department of Commerce reported:
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that the goods and services deficit was $42.4 billion in November, down $2.2 billion from $44.6 billion in October, revised. November exports were $182.2 billion, $1.6 billion less than October exports. November imports were $224.6 billion, $3.8 billion less than October imports.The trade deficit was smaller than the consensus forecast of $44.4 billion.
The first graph shows the monthly U.S. exports and imports in dollars through November 2015.
Imports and exports decreased in November.
Exports are 10% above the pre-recession peak and down 7% compared to November 2014; imports are 3% below the pre-recession peak, and down 5% compared to November 2014.
The second graph shows the U.S. trade deficit, with and without petroleum.
Oil imports averaged $39.24 in November, down from $40.12 in October, and down from $82.92 in November 2014. The petroleum deficit has generally been declining and is the major reason the overall deficit has declined since early 2012.
The trade deficit with China increased to $31.3 billion in November, from $30.2 billion in November 2014. The deficit with China is a substantial portion of the overall deficit.