The 2020 Mid-Year Economic Update_long

The Goods and Services Deficit Increased in December

Year-to-date, the goods and services deficit decreased 1.7%.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $48.9 billion in December, up $5.2 billion from $43.7 billion in November, revised.

December exports were $209.6 billion, $1.6 billion more than November exports. December imports were $258.5 billion, $6.8 billion more than November imports.

The December increase in the goods and services deficit reflected an increase in the goods deficit of $5.1 billion to $69.7 billion and a decrease in the services surplus of $0.1 billion to $20.8 billion.

For 2019, the goods and services deficit decreased $10.9 billion, or 1.7%, from 2018. Exports decreased $1.5 billion or 0.1%. Imports decreased $12.5 billion or 0.4%.

Exports of goods increased $1.3 billion to $137.7 billion in December. Exports of services increased $0.3 billion to $71.9 billion.

Imports of goods increased $6.4 billion to $207.5 billion in December. Imports of services increased $0.4 billion to $51.1 billion.

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