by Calculated Risk on 3/06/2019 08:44:00 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 $59.8 billion in December, up $9.5 billion from $50.3 billion in November, revised.

December exports were $205.1 billion, $3.9 billion less than November exports. December imports were $264.9 billion, $5.5 billion more than November imports.

Click on graph for larger image.

Exports decreased and imports increased in December.

Exports are 24% above the pre-recession peak and unchanged compared to December 2017; imports are 14% above the pre-recession peak, and up 3% compared to December 2017.

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

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

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 $50.27 in December, down from $57.54 in November, and down from $52.08 in December 2017.

The trade deficit with China increased to $36.8 billion in December, from $30.8 billion in December 2017.