The US Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $63.2 billion in November, down $1.3 billion from $64.5 billion in October, revised. November exports were $253.7 billion, $4.8 billion less than October exports. November imports were $316.9 billion, $6.1 billion less than October imports.
The November decrease in the goods and services deficit reflected a decrease in the goods deficit of $0.6 billion to $89.4 billion and an increase in the services surplus of $0.7 billion to $26.2 billion.
Year-to-date, the goods and services deficit decreased $161.8 billion, or 18.4 percent, from the same period in 2022. Exports increased $28.8 billion or 1.0 percent. Imports decreased $133.0 billion or 3.6 percent.
The November figures show surpluses, in billions of dollars, with South and Central America ($4.1), Netherlands ($3.0), Hong Kong ($1.8), Australia ($1.4), United Kingdom ($0.6), Singapore ($0.4), Belgium ($0.2), and Brazil (less than $0.1).
Deficits were recorded, in billions of dollars, with China ($21.5), European Union ($15.6), Mexico ($13.8), Vietnam ($9.7), Canada ($7.8), Japan ($7.1), Germany ($5.6), Taiwan ($4.6), Ireland ($4.4), India ($4.0), Italy ($3.6), South Korea ($3.5), Switzerland ($2.3), Malaysia ($1.7), France ($0.6), Israel ($0.4), and Saudi Arabia ($0.1).