The 2020 Mid-Year Economic Update_long

November U.S. Exports, Imports Decrease

Goods and services deficit up 5.5 percent year-over-year.

November exports were $182.2 billion and imports were $224.6 billion, according to the U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce. This resulted in a goods and services deficit of $42.4 billion in November, down $2.2 billion from October. November exports were down $1.6 billion from October, and imports were down $3.8 billion.

The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $2.3 billion to $61.3 billion and a decrease in the services surplus of $0.1 billion to $18.9 billion.

Year-to-date, the goods and services deficit increased 5.5 percent, from the same period in 2014. Exports decreased 4.6 percent and imports decreased 2.8 percent.

Exports of goods decreased $1.4 billion to $122.2 billion in November, primarily due to a $0.7 billion decrease in industrial supplies and materials, and a $0.6 billion decrease in consumer goods. Exports of services decreased $0.1 billion to $60 billion in November.

Imports of goods decreased $3.7 billion to $183.5 billion in November, primarily due to a $3 billion decrease in consumer goods, and a $0.6 billion decrease in capital goods. Imports of services decreased $0.1 billion to $41.1 billion in November.

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