Wednesday, February 06, 2019

Trade Deficit decreased to $49.3 Billion in November

by Bill McBride on 2/06/2019 08:47:00 AM

From the Department of Commerce reported:

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $49.3 billion in November, down $6.4 billion from $55.7 billion in October, revised.

November exports were $209.9 billion, $1.3 billion less than October exports. November imports were $259.2 billion, $7.7 billion less than October imports.
U.S. Trade Exports Imports Click on graph for larger image.

Exports and imports decreased in December.

Exports are 27% above the pre-recession peak and up 4% compared to November 2017; imports are 12% above the pre-recession peak, and up 3% compared to November 2017.

In general, trade has been picking up, although trade has declined slightly recently.

The second graph shows the U.S. trade deficit, with and without petroleum.

U.S. Trade Deficit The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.

Oil imports averaged $57.54 in November, down from $61.23 in October, and up from $50.10 in November 2017.

The trade deficit with China increased to $37.9 billion in November, from $35.4 billion in November 2017.