by Calculated Risk on 2/08/2022 08:38:00 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 $80.7 billion in December, up $1.4 billion from $79.3 billion in November, revised.

December exports were $228.1 billion, $3.4 billion more than November exports. December imports were $308.9 billion, $4.8 billion more than November imports
emphasis added

Click on graph for larger image.

Both exports and imports increased in December.

Exports are up 20% compared to December 2020; imports are up 20% compared to December 2020.

Both imports and exports decreased sharply due to COVID-19, and have now bounced back (imports more than exports),

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.

Note that net, imports and exports of petroleum products are close to zero.

The trade deficit with China increased to $36.1 billion in December, from $27.3 billion in December 2020.