U.S. International Trade in Goods and Services Highlights

January 11, 2013

Goods and Services Deficit Increases in November 2012

The Nation’s international trade deficit in goods and services increased to $48.7 billion in November from $42.1 billion in October (revised), as imports increased more than exports.

Goods and Services

• Exports increased to $182.6 billion in November from $180.8 billion in October (revised). Goods were $129.3 billion in November, up from $127.7 billion in October. Services were $53.2 billion in November, up from $53.1 billion in October.

• Imports increased to $231.3 billion in November from $222.9 billion in October (revised). Goods were $195.0 billion in November, up from $186.8 billion in October. Services were $36.3 billion in November, up from $36.1 billion in October.

• For goods, the deficit was $65.7 billion in November, up from $59.1 billion in October (revised). For services, the surplus was $17.0 billion in November, virtually unchanged from October (revised).
  

Goods by Category (Census basis)

• The October to November increase in exports of goods reflected increases in capital goods ($0.9 billion); automotive vehicles, parts, and engines ($0.7 billion); industrial supplies and materials ($0.6 billion); and consumer goods ($0.1 billion). Decreases occurred in foods, feeds, and beverages ($0.4 billion) and other goods ($0.2 billion).  

• The October to November increase in imports of goods reflected increases in consumer goods ($4.6 billion); automotive vehicles, parts, and engines ($1.5 billion); industrial supplies and materials ($1.3 billion); foods, feeds, and beverages ($0.6 billion); capital goods ($0.4 billion); and other goods ($0.1 billion).

Services by Category

• Exports of services increased $0.1 billion from October to November. Increases in passenger fares ($0.1 billion) and travel ($0.1 billion) were partly offset by a decrease in other private services ($0.1 billion), which includes items such as business, professional, and technical services, insurance services, and financial services. Changes in the other categories of services exports were relatively small.

• Imports of services increased $0.2 billion from October to November. The largest increase was in other transportation ($0.1 billion), which includes freight and port services. Changes in the other categories of services imports were relatively small.

Goods by Geographic Area (Not Seasonally Adjusted)

• The goods deficit with China decreased from $29.5 billion in October to $29.0 billion in November. Exports decreased $0.2 billion (primarily nonferrous metals and oilseeds and food oils) to $10.6 billion, while imports decreased $0.7 billion (primarily apparel and footwear) to $39.5 billion.

• The goods deficit with Canada increased from $1.7 billion in October to $3.0 billion in November. Exports decreased $1.2 billion (primarily generators, passenger cars, and electric apparatus) to $24.7 billion, while imports increased $0.1 billion (primarily fuel oil) to $27.7 billion.

• The goods deficit with Mexico increased from $4.4 billion in October to $4.9 billion in November. Exports decreased $1.6 billion (primarily petroleum products, computer accessories, and soybeans) to $18.8 billion, while imports decreased $1.1 billion (primarily crude oil, automotive parts and accessories, and computers) to $23.7 billion.

This and more information is provided in the Bureau of the Census and Bureau of Economic Analysis press release:

U.S.International Trade in Goods and Services: November 2012 .

For further information on goods, contact Maria Iseman, Foreign Trade Division, U.S. Census Bureau, on (301) 763-2311; on services, contact Edward Dozier, U.S. Bureau of Economic Analysis, on (202) 606-9559.

NOTE: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the information section on page A-1 of the FT-900 release, or at www.census.gov/ft900 or http://www.bea.gov/bea/di/home/trade.htm.

The next release is February 8, 2013

---

Note: Total goods data are reported on a Balance of Payments basis; commodity and country detail data for goods are on a Census basis. For information on data sources and definitions, see the Information Section (PDF, 53k) (TXT, 23k)

---

Related sites:

• U.S. Department of Commerce
  • U.S. Census Bureau, Foreign Trade Division
  • Bureau of Economic Analysis